The Obama - Clinton Disaster Message Board

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Politics : The Obama - Clinton Disaster

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To: GROUND ZERO™ who wrote (3551)	12/22/2008 9:22:39 AM
From: DuckTapeSunroof	Read Replies (2) of 103300

Developers Ask U.S. for Bailout as Massive Debt Looms online.wsj.com With a record amount of commercial real-estate debt coming due, some of the country's biggest property developers have become the latest to go hat-in-hand to the government for assistance. They're warning policymakers that thousands of office complexes, hotels, shopping centers and other commercial buildings are headed into defaults, foreclosures and bankruptcies. The reason: according to research firm Foresight Analytics LCC, $530 billion of commercial mortgages will be coming due for refinancing in the next three years -- with about $160 billion maturing in the next year. Credit, meanwhile, is practically nonexistent and cash flows from commercial property are siphoning off.

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