U.S. lawmakers today expressed anxiety about the future of the commercial real estate industry. Joint Economic Committee Chairman Rep. Carolyn Maloney said at a hearing that the “time bomb is ticking” for commercial real estate. Lending for commercial projects has stalled and many are concerned that developers will be unable to refinance $400 billion in commercial real estate debt that is coming due this year. Commercial real estate nationwide is worth about $6.7 trillion and has about $3.5 trillion worth of debt.
Lawmakers worried about commercial real estate industry
July 09, 2009 05:52PM
