Minneapolis commercial litigation and professional liability defense attorney Keith Broady explains how real estate is an area of frequent litigation during economic downturns.
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Currently we’re not seeing any particular bulge in an area of litigation. A few years ago when there was the economic downturn, we had a lot of real estate related litigation. And the dramatic drop in real estate values prompted many people to have losses, they were seeking to minimize the losses or to shift the losses to attorneys, to realtors, to mortgage companies and that generated a lot of real estate related litigation, and so whenever you have a major change in the economy that’s likely to generate litigation.