Developers seek rescue package as commercial mortgages coming due
Some of the nation's largest property developers are asking the federal government to set up a program that would increase lending to commercial real estate. The group says that commercial mortgages coming due pose a threat to the global financial system. About $160 billion will come due in the next year. Officials have said they will consider including commercial real estate in a $200 billion plan aimed at salvaging the market for car loans, student loans and credit card debt.
Wall Street Journal, The
| 12/22
This story published in AGC SmartBrief on 12/29/2008
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