Commercial Real Estate: Do Rising Defaults Pose Systemic Threat?

July 9, 2009

Congresswoman Carolyn B. Maloney, Chair of the Joint Economic Committee (JEC) will convene a hearing to examine the growing financing problems faced in the commercial real estate market and potential solutions to the credit crisis in the sector. The hearing entitled, “Commercial Real Estate: Do Rising Defaults Pose Systemic Threat?” will take place on Thursday July 9, 2009 at 10 am in room 2226 of the Rayburn House Office Building. The commercial real estate market has been severely stressed by the recession with rising vacancy rates for existing office, industrial, and retail properties and falling prices in the commercial real estate market. Experts will testify about the current difficulties in refinancing existing commercial real estate loans due to the reduced availability of credit and disruptions in the secondary market.

Part 1

Part 2

Witness Statements:

Mr. James Helsel, Treasurer, Natiional Association of Realtors (PDF - 318.7 KBs)
Mr. Jeffrey D. DeBoer, President & CEO, The Real Estate Roundtable (PDF - 534.7 KBs)
Mr. Richard Parkus, Head of CMBS and ABS Synthetics Research, Deutsche Bank (PDF - 18.8 KBs)
Jon Greenlee, Associate Director, Banking Supervision and Regulation, Fed (PDF - 43.6 KBs)

Current record

Commercial Real Estate: Do Rising Defaults Pose Systemic Threat?

Witness Statements:

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