Posted by: union03g | December 9, 2009

Fire Shifts From Residential To Hotels

Going forward we are going to see the concentration of negative news shift from housing to hotels and commercial space. Zillow just reported a stabilization in residential housing prices and more headlines are focusing on the next crisis. I think a lot of hotels will pull through the recession but all the loan modifications will hit banks hard once again. Here is recent example. The beloved Burnham Hotel next to Block 37 purposely defaulted on payments so they can modify their loan terms. Zell also thinks this commercial restructuring will take a long, long time


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