02.10.2008 - Wall Street crisis drops the hammer on development financing
From Costar.com: The crisis afflicting Wall Street investment banks is boiling over onto the state, regional and community banks that fund a large slice of the loans for construction and development projects on Main Street. Construction lending is at a 14-year low and loan delinquencies are on the rise. The holders of many of the troubled loans are regional and community banks, which began picking up the slack when conduit and other portfolio lenders that traditionally make construction and development loans virtually disappeared at the onset of the credit crunch last year..... Full Article: Source