by Calculated Risk on 8/20/2008 09:30:00 AM

This WSJ article has some interesting stats and comments: Wachovia Unloads Troubled Loans

Over the next five years, U.S. banks could write off as bad debt between $65 billion and $165 billion loans tied to residential construction and land assets, according to research firm Zelman & Associates.

The article also has data on delinquency rates:

Foresight Analytics estimates that land- and construction-loan delinquencies reached 8% in the second quarter for commercial banks, up from 7.1% in the first quarter and 2.3% in the year-earlier period.

The confessional will be busy.