Elizabeth Warren video interview - 50% of CRE underwater by end of the year

Elizabeth Warren did an interview on CNBC. Of the tidbits we have: get rid of Fannie Mae and Freddie Mac, why is Citigroup growing when it should be shrinking and 50% of all Commercial Real Estate will have loans greater than the properties are worth by the end of 2010 and it's such a problem it's gonna hurt the overall economy. Watch to see if I summed that up correctly:


The CRE Crisis Hits Home for Renters

The AP has a story up today about the impact of the CRE crisis on apartment complexes. They note that the number of multifamily mortgages in foreclosure is up 1800% over the past two years. With mortgages on the complexes sinking underwater, owners are just up and walking away.

There was no heat or hot water, so for weeks Mary Fountain would fill a bowl and put it in the microwave, then strip off her extra layers to sponge herself clean.

Upstairs, her longtime neighbor, 70-year-old Gearaldine Davis, peers skeptically out at her balcony, hesitant to step onto the cracked concrete. The last time the city inspector came by, he told her he was afraid to walk out there.