There was a hearing of the Joint Economic Committee (JEC) today on the following topic:
Commercial Real Estate: Do Rising Defaults Pose Systemic Threat?
Follow this link to the U.S. Congres JEC's Website for testimony and video: http://tr.im/rBH8
I also read a very nice opinion article from David Bodamer, Editor-in-Chief of Retail Traffic. It is worthy of a Re-Blog as it also offers links to several other press articles on today's hearing of the Joint Economic Committee. James Helsel, Partner, RSR Realtors, Harrisburg, PA and importantly Treasurer, National Association of Realtors(NAR)gave testimony as did the Associate Director, Division of Banking Supervision and Regulation, the Federal Reserve Board of Governors, Head of CMBS and ABS Synthetics Research, Deutsche Bank Securities, and the President & Chief Executive Officer, The Real Estate Round table.
A snipit of the article is shown below followed by a link to the full article.
Commercial Real Estate-a Ticking Time Bomb?
David Bodamer July 9th, 2009
In a committee hearing in Congress that just ended, Joint Economic Committee Chairwoman Carolyn Maloney said that commercial real estate is a "ticking time bomb." That comment alone has generated a Dow Jones story, an Associated Press story, a blog entry at the Washington Post, a Reuters story, a CNBC story and a Bloomberg story.
For the full story of Mr. Bodamer's article follow this link: http://tr.im/rBdy
For any of your Commercial Real Estate needs in the Greater Akron, Ohio area including the Ohio counties of Summit, Stark, Portage, Medina, and Wayne, please get in touch with me.
NAI Cummins Real Estate (330) 535-2661 x 142 or by email MarkStacy@NAICummins.com
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