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IPFS News Link • Economy - Economics USA

Arizona's Commercial Real Estate Bloodbath

08.07.2009 • The Business Insider

Two thousand foreclosures in just one county! More than 2,000 commercial properties in Maricopa County, Arizona have received 90-day foreclosure notices since the beginning of the year. In total, that represents $6.3 billion in real-estate loans. That foreclosure number is horrific. Arizona was one of the canaries in the coal mine of the housing bubble. If it’s playing that role for commercial real estate, we’re in for a lot of pain.

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