Commercial property industry seeks bailout aid
Monday, December 22, 2008
Source: Reuters
Reuters reports: A group of trade associations representing the U.S. commercial real estate industry is lobbying to be included in the Federal Reserve's $200 billion asset-backed bailout plan in order to head off a wave of foreclosures over the next few years. In a letter to U.S. Treasury Secretary Henry Paulson, industry organizations have asked that the $200 billion Term Asset-Backed Securities Loan Facility (TALF) provide guarantees or financing, or purchase highly rated asset-backed securities collateralized by new or recently originated mortgages. "I think it comes down to less of the government actually buying these bonds and more of the government assisting to restart the market," said Dan Fasulo, managing director at real estate research firm Real Capital Analytics. "The government can buy whatever they want, but without private investment none of us is going to get out of this mess."
View the full article on Reuters: Commercial property industry seeks bailout aid
Posted by: Nina Turner