Ranieri: CRE slump will damage banks

09/16/2009 | Bloomberg

The U.S. housing market is "still very fragile," according to Lewis Ranieri, chairman of New York-based Hyperion Partners LP. Meanwhile, the commercial real estate slump is just beginning and destined to hurt banks. Both factors could upend the economic recovery, he said. "We're looking at a very slow two-plus-year recovery," he said.

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