To view this content, you need to sign in.
You should only be asked to sign in once. Not the case? Click here
Register now to access this content and more for free.
Construction loan defaults at highest level since 1993
The number of development loans written-off by banks in the US is also expected to rise sharply for the final three months of 2008. Of the estimated $60bn in outstanding construction loans as of Q4, 8.2 percent are expected to be non-accrual.
