Desolate malls, empty offices may come soon - Real estate- msnbc.com: "Over the next several years, failed commercial real estate loans could litter American cities with empty stores and office complexes, cause hundreds of bank failures and weaken the economy, a watchdog report says.
Banks face up to $300 billion in losses on loans made for commercial property and development, according to a report released Thursday by the Congressional Oversight Panel."
Nice to see somebody waking up to this situation. I've been predicting a commercial real estate meltdown, but maybe it will be a slow collapse. Thanks to Fred Pilot for this link.