Word: reals
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Dates: during 2000-2009
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...would be expected with any large commercial real estate enterprise, General Growth is highly leveraged and was probably able to get mortgages with ease at the height of the real estate boom...
Malls are only the tip of the commercial real estate iceberg. Large office buildings in the nation's biggest cities are experiencing growing vacancy rates and a raft of tenants who are behind on their rent payments, or worse, have defaulted. Replacing the tenants is difficult without dropping rents significantly which further compromises the ability of these office building owners to make their own mortgage payments. In is not unlike the problem mall owners face as retail outlets close due to lack of sales...
Bank investors has been waiting to see if there is another shoe to drop in the chain of troubled earnings reports. The firms may face more write-offs of toxic assets and pressure from the deteriorating chances that consumers can pay their credit card bills, but commercial real estate may eclipse those problems as the year wears...
...loans when it did its "stress tests" on banks. It is also not clear what assumptions the government used for the default rates of this paper. The $27 billion in debt that General Growth holds seems like a great deal of money. But, looking at all of the commercial real estate holdings across the country, particularly those with mortgages taken out between 2003 and 2007, and the problem is deeper than most people can imagine...
...Wackers stresses, however, that these findings do nothing to diminish the very real risk of heart disease in diabetics. A 1998 Finnish study documented that diabetes patients who had not suffered a heart attack had the same poor health profile as those who had - findings that prompted the American Diabetes Association to recommend heart-disease screening for all diabetes patients with two or more additional risk factors for heart disease, such as high cholesterol or hypertension, even in the absence of symptoms. "That study really changed the field," says Wackers, "and told us we cannot miss the risk of heart...