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Lawmakers worried about commercial real estate industry

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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.

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Carolyn MaloneyCommercial Real Estate