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Loans get scarcer for US developers trying to finish jobs

Property owners face woes like overbuilding, oil price slump, strong dollar, falling stock prices, and China slowdown
Thursday, March 17, 2016 - 05:50

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A building boom in places such as Manhattan (left) and Miami in the past few years has led to a glut of high-end residential condos and hotels.

New York

LENDERS are getting stingier when it comes to funding risky US real estate developments, putting pressure on landlords in need of fresh funding to keep their projects afloat.

Banks are proceeding with caution as the spectre of slowing economic growth rattles financial

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