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Commercial Lending Plummets in 1st Quarter
Apartment and commercial lending plummeted 70% in first quarter compared to figures from a year ago.   It is also down 26% from the fourth quarter.  The Mortgage Bankers Association blames the recession on the drop of loans. 
Here is how different properties compared to the first quarter of 2008:
88 percent decrease in loans for hotel properties
80 percent decrease in loans for health care properties
76 percent decrease in loans for retail properties
66 percent decrease in loans for office properties
61 percent decrease in apartment property loans
50 decrease in industrial property loans.
 
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