Alarm bells are starting to sound in the industry of banking due to today’s commercial real estate meltdown. Signs seem to show that banks are going to get hit, but there is quite a difference between the foreclosures of several homes and those of offices, shopping centers and hotels with steeper prices.
Belly-ups that occur within more expensive properties also make the pain worse for the people who hold their debts. Because of this, the financial industry is predicting waves of bank failures within the next few years.