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Half of commercial real estate mortgages to be underwater by year’s end
- Towle_ 17y agoA thought occurs: Congress should stop incentivizing people to buy homes they can't afford.
- Psyonic 17y agoI have no argument with that, but this article is about commercial real estate mortgages.
- hnsummary 17y agoArticle Summary: The real estate market is going from bad to worse. By the end of 2010 about half of all commercial real estate mortgages will be underwater. According to Elizabeth Warren, the chairperson of TARP, The majority of the mortgages in danger were made by 2,988 midsized banks. She believes the economy will face another very serious problem and “things are unlikely to return to normalcy in 2010.” Elizabeth also believes the government should “pull the plug” on mortgage lenders Fannie Mae and Freddie Mac. http://hnsummary.com/2010/03/30/half-of-commercial-real-estate-mortgages-will-be-underwater-by-year-end/ http://hnsummary.com/2010/03/30/half-of-commercial-real-esta...