The Real Estate Deal
Editor Cindy Zetts dishes on real-estate and development around Puget Sound: She lived in apartments, townhomes and houses -- a dozen of them in four states -- before settling in the Seattle area in 1997. After taking a bath on the sale of her first home, in South Florida, she vowed to wise up about real estate. She bought a house in Covington 10 years ago because, well, she could afford one there.
SubscribeAugust 22, 2008 5:16 PM
Will commercial real estate be the next shoe?
Posted by Cindy Zetts
An interesting article in Thursday's New York Times addresses Wall Street banks' worries about the commercial-mortgage market.
The industry's concerns came to light last year, after Morgan Stanley wrote down $400 million in losses from commercial mortgages, the article says. Recently, fears were renewed after the owners of a 1,230-unit apartment complex in New York's Harlem neighborhood warned that they might default on a $225 million mortgage payment due next month. Check out the story here.
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