Real estate woes of banks mount with piles of bad construction loans

The Saint Reportsaintblog, Urban planning1 Comment

badloans_2 Federal regulators have warned that banking-industry turmoil would continue as financial institutions come to terms with piles of bad loans they made to finance the construction of homes and condominiums. Previous concerns about the credit crunch on homeowners has now shifted to loans to home and condo builders, with banks starting to dump bad loans at steep discounts.

Wall Street Journal reporters Michael Corkery, Jonathan Karp and Damian Paletta have written an account posted by The Future of Real Estate blog.

One Comment on “Real estate woes of banks mount with piles of bad construction loans”

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