Economic Reality: US property developers join queue for government aid

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American property developers are pleading for assistance from the US government to help them through tough financial times, joining a lengthening queue for public support behind banks, financial services corporations and carmakers.

Leading American property firms have told politicians in Washington of a looming crisis when $200bn (£135bn) to $400bn of commercial mortgages mature over the next few years. With banks loth to lend money, they may be unable to refinance these loans.

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