A Line Grows at Treasury
And now the Donald Trump contingent wants in:
From the NY Times: A Wish List for Commercial Real Estate
Commercial real estate groups have been meeting with members of Congress, the Federal Reserve, the Treasury, the Federal Deposit Insurance Corporation as well as Mr. Obama’s transition team, to press their case. And they say they have a compelling one.
CR was exactly right about this last week, and he remains exactly right:
[T]his is really about property investors who bought commercial buildings at the price peak and are now underwater. But say the owners default and the properties are transferred to the bondholders – what is the risk to the economy? None.
Makes sense to me. Anybody else care to weigh in?