Fears mount over US construction boom
April 12, 2017 | by Alistair Gray | Financial Times
More than a million new apartments have sprung up across the US in a post-crisis construction surge. Now bankers who funded the boom are worried: have developers built too much?
As concerns grow about a supply glut, financial watchdogs this month began scrutinizing how the largest lenders would cope with a property market crash. Officials at the Federal Reserve ordered banks to set out how they would fare if commercial real estate (CRE) prices dropped 35 per cent and rental apartment values collapsed by more.
Officials at the Federal Reserve ordered banks to set out how they would fare if commercial real estate (CRE) prices dropped 35 per cent and rental apartment values collapsed by more.
