First time Obama Administration genuinely worried about commercial real estate…loans could trigger the next banking crisis…president briefed by economic team on issue…more than half of $3.4 trillion in commercial real-estate debt owned by banks…
(Source: The Atlantic)
According to a new report, the Obama administration is beginning to sweat over problems in the commercial real estate market:
FOX Business has learned that President Obama has been briefed by his economic team on widespread concerns for commercial real estate loans, an issue many believe could trigger the next banking crisis.
The briefing occurred as many on Wall Street fear commercial mortgage-backed securities, commonly known as CMBS, will be the next set of loans to begin placing stress on banks’ balance sheets.
Read the full article by Daniel Indiviglio, “Obama Administration Worries About Commercial Real Estate” at the Atantic, (Oct 16, 2009).
Check out the below video from Fox Video “Commercial Real Estate: The Next Crisis”