South Florida banks facing a new wave in real-estate crisis - South Florida - MiamiHerald.com: "Just as the housing market is showing signs of life, here comes another real-estate crisis.
Squeezed by plunging rents, empty storefronts, the credit crunch and a dearth of buyers, a growing number of commercial property owners are defaulting on their loans, which could unleash a new wave of bank failures and slow the region's economic recovery."
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The commercial real estate market is about to go into a major meltdown that will intensify during 2010.
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