Monday, June 23, 2008

Banks Leaving Las Vegas

Las Vegas Construction loans are among the largest in the industry, and have put a strain on some banks with high exposure. Although the commercial real estate industry seems surprisingly healthy given the current residential meltdown, some banks are still suffering under the pressure.

This Bloomberg story notes how building continues as banks joust for control of a major Las Vegas project:
http://www.bloomberg.com/apps/news?pid=20601109&sid=a1YI9rQC09sw&refer=home