July 23, 2009

Big Ben on CRE

In yesterday's Senate Banking Committee hearing, Fed Chairman Ben Bernake had the following to say about commercial real estate:

“As the recession’s gotten worse in the last six months or so, we’re seeing increased vacancy, declining rents, falling prices -- and so, more pressure on commercial real estate. We are somewhat concerned about that sector and are paying very close attention to it. We’re taking the steps that we can through the banking system and through the securitization markets to try to address it.”

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