Time and WSJ – “Commercial Real Estate: The Banks’ Next Big Problem”

Here’s a link to a story on Time magazine’s on line site from yesterday:  Commercial Real Estate: The Banks’ Next Big Problem.  Not long ago, most commercial lenders were telling me that default rates were under 1%.  As many of you know, things have changed dramatically, and quickly.  

3-27-09 Update – Here’s a similar report from The Wall Street Journal:  Commercial Property Faces Crisis.