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Loan Modification
: Mortgage Lender Implode-o-MeterNO NEW LEASE ON TRILLIONS IN DEBT
By Implode-Explode Heavy Industries
A trillion-dollar storm is gathering over the commercial real estate landscape that's threatening to add further pain to an already bruised US economy.
At the center of the worries is some $3.5 trillion in debt backed by everything from strip malls to offices and apartments across the nation -- the lion's share of which is badly underwater because this recession followed a five-year commercial property boom fueled by easy money and loose underwriting standards.
Full post as published by Mortgage Lender Implode-o-Meter on May 24, 2009 (boomark / email).
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