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Tx. Commercial Real Estate Next Shoe To Drop

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Dover Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-10-08 10:12 AM
Original message
Tx. Commercial Real Estate Next Shoe To Drop
Delinquent Commercial Real Estate Loans at Texas-based Banks

The asset quality of commercial real estate loans continues to deteriorate at Texas banks, according to newly released third-quarter regulatory data. Commercial real estate is widely expected to be the next shoe to drop, after a dramatic rise in recent quarters in nonperforming construction loans and residential mortgages.

http://www.americanbanker.com/pagedisplay.html?pagename=snl_tx

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sonias Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-10-08 10:48 AM
Response to Original message
1. Well that's not a surprise
We are the testing ground for bad public policy like Molly used to say. Before it went national, I'm sure Texas banks were among the first to dive into shaky loans with Texas sized greed at the core. We're going to see a lot of abandoned building shells like the time the oil & gas markets took a dive.

And now that Texas voters have decided to "stay the course" and not move more Democrats into Congressional seats, Texas won't have very much clout in the new administration either. So whatever policy does get decided in D.C., Texas will be on the sideline for the most part.

AAS 11/10/08
Texas clout takes a hit as Democrats take control
By SUZANNE GAMBOA
Associated Press Writer

DALLAS — Had voters re-elected Rep. Nick Lampson to Congress, he would have taken the helm of a House subcommittee that oversees NASA projects and guides its budget.

But voters in the district that is home to Johnson Space Center took a pass.

Instead, they elected Republican Pete Olson, who has built Washington contacts from years working as a Senate aide and in the Pentagon, but who will be a freshman in the minority party.
(snip)

Texas can brag that it has the largest Republican delegation — 20 GOP members and 12 Democrts — in the House. But when Democrats expanded their majorities in Congress and taken the White House, does it mean anything?


Sonia
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Justitia Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-10-08 01:25 PM
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2. Reminds my hubby of the bad old days in Midland - when it all went to hell in a handbasket.
And yes, TX voters absolutely marginalized themselves w/this election.

Will Texans never learn (sincere question)?
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