from GlobeSt (11/25):
November 25, 2008 06:32pm
Condo Construction Loan Default Rate Passes 20%
By Brian K. Miller
"SAN FRANCISCO-In concert with the continuing economic malaise the delinquency rate for all construction and land loans nationally jumped 150 basis points during the third quarter to 9.6%, which equates to $59.5 billion in loans. One year ago, the delinquency rate was 3.2%, or just under $20 billion." ...
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