The Coming Debacle in Commercial Real Estate
The Coming Debacle in Commercial Real Estate
New York Times
Though it came as no surprise to investors, the collapse of General Growth Properties, the nation’s second-largest mall owner, has stirred new fears about a coming debacle in commercial real estate. The global credit crisis, weakening retail demand and rising unemployment have taken a toll on commercial property around the world. At least $153 billion worth of property is already in distress, according to Real Capital Analytics, a New York research company.
Freddie Mac Executive Found Dead
New York Times
David B. Kellermann, the acting chief financial officer of Freddie Mac, was found dead at his Northern Virginia home Wednesday morning, the police said.
For Housing Crisis, the End Probably Isn’t Near
New York Times
The closest thing to a real estate crystal ball in the last few years has been the house auctions that are regularly held around the country.