Dave Lewenz

Credit Crisis Watch: Are the Markets Thawing?

The availability of credit for small business is all but none existing. Our company has had its American Express credit line cut off and for no reason, We never have been late on a payment, nor have we ever missed a payment and have always paid more off our line then the minimum required.
We see no slow down in residential foreclosures, If you look at the top ten markets for foreclosures prices are heading down ward steadily indicating future losses for the banks. Commercial space vacancies are increasing significantly across the country putting additional pressure on landlords and their abilities to make mortgage payments on their properties. The amount of corporate debt for marginal companies is yet another shoe to drop next year, as decrease in cash flow does not allow for debt service for many companies. We are no were near the bottom.