WASHINGTON, DC--Commercial real estate executives won't relaxuntil the terrorism insurance backstop is passed, according to thelatest Real Estate Roundtable survey. The Senatevoted to renew the terrorism insurance law on July 17for seven years. House legislation proposing a five-year extensioncleared committee in June, but that remains in limbo until Congressreconvenes in September.

"Commercial real estate remains on a generally positive path,yet there is significant concern about Washington inaction on arange of policy matters affecting our industry," said RoundtablePresident and CEO Jeffrey D. DeBoer, in a preparedstatement. "The most pressing of these is TRIA, whosepotential expiration could trigger a wave of technical defaults,renewed problems for banks and bond holders, and lost jobs asfinancing for new and existing projects dries up," he said.

Data for the current survey was gathered July 7–22 byChicago-based FPL Associates on The Roundtable'sbehalf, a time period that produced economic reports illustratingthe ongoing economic recovery. Yet respondents are still concernedabout that as well. The "Future" index, for example, has reached 67after a two-point drop last quarter, but is one point lower than atthis time last year. This is a reflection of a lingering warinessamong industry executives about prospects for a sustainableeconomic recovery, The Roundtable concludes.