30.06.2009 - Burned U.S. banks may stay shy on real estate
From Reuters:The end of the decline in real estate is nowhere near, and yet U.S. banks may feel it shrewd to hold onto troubled loans in the sector rather than sell them or take losses. "Many of them are remembering that the 'sit on the loan, wait it out, work it out' strategy did pay off for those with the capability and patience to do that back in the early '90s," according to Jacques Gordon, global strategist at LaSalle Investment Management........Full Article: Source