U.S. sub-prime commercial real estate outlook is miserable drag.

<P> Subprime crisis impact on the U.S. housing market continued, according to the latest report released showed U.S. housing starts last December's fall to its lowest in 16 years, released last week, the Fed's Beige Book of regional economic situation .shows that all regions of the housing market is still very weak. .Not only that, more signs that the shadow is gradually extended to the commercial real estate market. .</ P> <P> recently released U.S. Department of Commerce statistics show that in 2007 the year the United States was 1.354 million housing starts, compared with 1,801,000 in 2006 decreased 24.8%. .November 2007 in housing starts of 1.187 million from the previously reported down to 1.173 million, down 3.7% from 7.9% expansion. .Meanwhile, December's housing starts dropped 14.2%, conversion is only 1.006 million seasonal factors, the most since May 1991 the lowest level since 16 years. .</ P> <P> Fed Beige Book: "In mid-2007 to December 11 during the survey period, moderate growth of economic activity, but compared with the previous survey, the speed is slower." Beige Book .said in a disappointing retail sales data, all regions of the housing market is still very weak. .Intricate situation in the manufacturing sector, industry and housing-related weakness in the automotive industry, exports increased. .</ P> <P> It: http://finance., In addition, the mortgage industry is not optimistic. .U.S. housing finance industry Association recently released a report that the mortgage industry to reduce bad debts, in the third quarter of last year, a total of 54,000 copies of loan contracts modified and re-development of 183,000 copies of the repayment plan, but during the suspension of the new housing is still the case .Up to 384,000, more than the industry managed to save the multi Liu Cheng. .The association pointed out that the mortgage problem difficult to solve, because a large proportion of homeowners are speculators, or borrowers who wish to consult the industry and its fundamentally not with care. .</ P> <P> At the same time, there are signs that commercial real estate market began to be affected. .According to Dow Jones news agency reported, Las Vegas Hotel and Casino developer Ian B ru ce E ichn er, today announced that it is impossible to obtain refinancing, he will not pay Deutsche Bank $ 760,000,000 loan. .However, analysts pointed out, it seems only the tip of the iceberg. .</ P> <P> Dow Jones Newswires reported that in some senior United States real estate plan, because when the economy is not as readily available as short-term refinancing, and have trouble. .Before in Las Vegas, and the other victims, the largest U.S. shopping center developer in Australia C en tro Real Estate Group, the group because of the short-term debt 3.4 billion breach of contract plummeted. .Meanwhile, the most prosperous in the market last year, when the acquisition of several Manhattan office buildings in New York developer Mark Lowe (H a rry M ack low e), may also be unable to pay due February 70 billion of debt. .Mark Lowe is currently the most popular being to sell its General Motors Building in Manhattan office buildings. .</ P> <P> credit rating company, Moody's warned last week, corporate default rates this year, builders may be climbed to 12%, including hotels, casinos and leisure industry default rate will reach 6%. .</ P>.