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ATLANTA-Dennis Lockhart, president of the Federal Reserve Bank of Atlanta, has expressed concern that the US commercial real estate market could derail the nation’s economic recovery later this year, according to a Reuters report. Lockhart made his remarks this week while speaking in Orlando to the Association for Financial Professionals.

“Many banks are pretty heavily exposed to commercial real estate,” Lockhart said, citing a $400-billion overhang in commercial real estate financing. “It is also a big part of the securitization market. So commercial real estate is one that concerns me.”

Lockhart added that this year’s anticipated commercial crisis could be similar to that for residential real estate over the past two years: “That is one domestic factor that keeps me up at night.” To read the entire Reuters article, click here.

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