The next crisis: Commercial real estate

Just in….A little scary, and Halloween is still so far away…

WASHINGTON (CNNMoney.com) — A congressional watchdog panel warned on Thursday that mounting commercial real estate losses could endanger the banking system and thwart economic recovery.

A total of $1.4 trillion in commercial real estate loans will require refinancing in the next four years, the Congressional Oversight Panel said in a report. More than half of those loans are underwater, written for properties whose value has dropped like a rock.

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-Kris Cone

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