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Regional and small banks are expected to report large losses from their mounting volume of soured loans made primarily to home builders, putting additional pressure on an already stressed financial system.
Bank of America is seeing a rapid run-up in delinquencies on building loans, a timely reminder of the liabilities that the bank will be taking on with Countrywide. Part of the blame comes from its acquisition of LaSalle Bank.
The gambling slowdown that began early this year is taking a serious toll on Las Vegas. Casinos are being pinched by less access to cash as they grapple with predownturn expansion plans and billions of dollars of debt.
The World Trade Center's owner proposed scrapping the schedule and budget for the prolonged rebuilding of the site, noting nearly every project is delayed and over budget and that previous estimates are unrealistic. (Report)
Demand for office space in Japan, which has been strong for years, is showing signs of softness. And that's likely to weigh on shares of the country's biggest real-estate developers.
Atlantic City, N.J., is adding as many as 3,000 hotel rooms this year and planning new offerings including spas in a bid to remake itself as a destination that appeals to visitors looking to do more than gamble.
The stock of Feldman Mall Properties will make its debut on the Nasdaq next Monday after it is delisted by the NYSE, but the mall owner's executives would prefer to take the company private.
Officials with the Los Angeles Memorial Coliseum Commission are putting the name of the building on the market to finance more than $100 million in renovations.
Jones Lang LaSalle agreed to pay $613 million for commercial real-estate brokerage firm Staubach Co., a closely held Dallas-based company founded by former Dallas Cowboys quarterback Roger Staubach.
The National Association of Home Builders has backed off a previous tax effort and resumed political donations in hopes of pushing a proposed tax credit for home buyers to stimulate demand.