The Refinishing Touch Blog

The second half of 2008 had many of our heads spinning with news of severe financial meltdowns that would demand government rescue plans to bailout key players in the US economy. The housing crisis pushed mortgage lenders to the front of the world stage being followed closely by Wall Street executives and soon after, the automotive industry's "Big Three" to appeal for governmental aid. It was only a matter of time before many other industries would start to feel the effects of financial crisis.

The latest in a growing list of industries seeking assistance are the players in commercial real estate. Many executives are now stating that an estimated $400 billion in commercial real estate mortgages will come due through the end of 2009. With credit now essentially frozen, commercial developers have found themselves in need of being rescued.

If the government were to step in, a series of resulting actions would allow lenders to offer lower interest rates on loans that would better enable borrowers with maturing debt to refinance.

In a time when everyone could use more than a little help, TRT further promotes the behavior of smart business practice beginning with asset management. To improve existing assets without incurring costs on new items is a saving in itself. Taking stock of what's on hand will be critical for hospitality, government and educational institutions. As financial struggles continue to unfold, it is our sincere hope that we will eventually begin to see a time of stability and resilience on the horizon in 2009.

Labels: Asset Management, commercial real estate, credit, economy, financial meltdowns, government aid, housing crisis, The Refinishing Touch