Credit freeze puts developers on ice.

The article reports on a survey by law firm DLA Piper which has revealed that almost two-thirds of high-level real estate executives don't expect the real estate markets to stabilize until 2010. As reported, nearly 60% of respondents in the follow-up survey have said that the current crisis surpassed the savings and loan collapse of 1989-91. The survey has a strong local flavor because 40% of the 424 respondents are in the Chicago, Illinois.