Elizabeth Warren warned in February that commercial real estate was the next recovery-killer, and since nothing improved by March, Tim Geithner yesterday took to CNBC to acknowledge the problem with commercial real estate and push the administration’s program to incentivize small banks to lend to small More…
If today’s economy wasn’t already bad enough and the need to bail out entire countries rather than just banks didn’t strike enough fear into your heart, Congressional Oversight Panel chair Elizabeth Warren has some news for you: It’s about to get worse.
Just in time for your holiday listening pleasure, here are two songs making their way around the blogosphere to celebrate the season and mark another year of falling home prices and an expanding commercial real estate bust.
First, via Mortgage Insider, here’s “The Twelve Months of Default,” which More…
So says Shaun Donovan, head of the Department of Housing and Urban Development. In an interview with The Washington Post, Donovan says the focus of the real estate recovery will remain on the housing market.
Clearly, the biggest focus has been on the single-family market. . . . We’re
As the residential real estate market continues its downward trajectory, the ripple effects of the crisis threaten the $8 trillion commercial real estate market. Offices, stores and industrial buildings are all facing a perfect storm of increasing vacancies and a lack of capital with which to refinance their debt. More…
It’s Friday, which means the government is likely to announce the latest round of bank failures in the late afternoon. Calculated Risk expects commercial real estate to implode in 2009, meaning lots of small and regional banks may go under. So there’s something to look forward to.
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