What is being proposed by the US Government?
It is seeking approval from Congress for $700 billion to buy home and commercial mortgages that are now worth less than their face value from American banks and other financial institutions, as well as foreign banks with US operations, over the next two years.
Why is this necessary?
The dramatic [...]

The nationwide credit crunch has taken a toll on Hawaii’s commercial real estate sector, which saw sales volume plunge 58.5 percent in the first half of the year, according to a new report.

Local real estate deals, affected by more stringent lending requirements and a disconnect in pricing between buyers and sellers, fell only 7.3 percent from 113 transactions in the first six months of 2007. But year-to-date sales volume plummeted to $536 million from $1.2 billion, according to the latest investment market report released today by Colliers Monroe Friedlander Inc.

Palm Beach County’s commercial real estate market has slowed since last year’s record-breaking run, but there are some signs of life.
For starters, TA Associates has paid J.P. Morgan Investment Management nearly $60 million for West Palm Beach properties in the past six weeks.
In July, Boston-based TA paid $18.25 million for the 95,935-square-foot building at 1400 [...]

Missed payments on office and retail mortgages rose slightly in June due to increases in delinquencies among commercial mortgages, credit ratings agency Fitch Ratings said Monday.
Fitch said June delinquencies rose to 0.41% among commercial-mortgage backed securities from 0.39% a month earlier.
Both office and retail mortgage defaults are still below the commercial mortgage delinquency average, despite [...]