real-estate
Investors Turn a Blind Eye to Commercial Real Estate Troubles
The Dow passes the 9,000 mark for the first time since January this week. The stock market’s big rally was fueled by optimistic Investors who are now firm in the belief that the worst financial crisis in 70 years is finally over and the recession that it spawned will soon fade away. The report of [...]
Mortgage Rescue Fails Miserably
The real estate market is still in very bad shape. The relentless slide in home prices that started after the housing bubble burst is wreaking havoc on recovery efforts aimed at stabilizing the real estate market. According to Bloomberg.com, 20.4 million of America’s 93 million homes (which encompasses houses, condos and co-ops) are saddled with [...]
What the Financial Pundits are Missing
As the stock market reaches positive territory for the year, and the pundits who were teetering on the ledges of their over-priced office suites scream for joy that the worst is over, the very real problems that face the U.S. economy have not gone away – they are just being ignored.
I found several useful articles [...]
Still Heading for the Abyss
Stock markets across this troubled planet rocketed ahead late this week – mainly on Thursday – because it appears that the world’s largest economies are slowing down as they approach the abyss. But, what jubilant investors are missing is that we’re still headed for the abyss – the economic trajectory has not changed. Extremely tough [...]
Feds Toss More Money Down AIG Hole
American International Group (AIG) made history this week by declaring a $61.7 billion loss for the fourth quarter of 2008. That equates to $22.95 per share, compare that to a stock price of less than a buck, (it was quoted at $0.34 today) and one can see the absurdity of our nation’s current financial situation. [...]
Beware Clowns Bearing Financial Advice
A friend of mine sent me a link to a YouTube video (after jump) featuring Peter Schiff, president of Euro Pacific Capital, and longtime critic of the debt-fueled U.S. economy. The video is comprised of interviews on financial news channels in 2006 and 2007 – before the subprime meltdown morphed into a full-blown Wall Street [...]
Real estate market still sinking
Oct. 17,2008. New records are being set almost every day now – too bad they’re all bad. The Commerce Department just reported that construction of new McMansions and luxury condos dropped an unhealthy 6.3 percent – a decrease of 1.6 percent was anticipated.
This brings the home construction to the lowest level since 1991. And the [...]
Prophetic Cartoon – Housing Crushes Economy
I created this cartoon in 2006. The following year marked the top of the real estate market, and as it turns out, the end of excessive financial leverage. In early 2005 I began studying the effects that the explosion of exotic loan products and the deterioration of lending standards were having on home prices. I [...]
Decline and Fall: the Wamu Saga
The Fed’s took my bank- for a day, it turns out. According to Marketwatch,
the federal Office of Thrift Supervision shut Wamu down yesterday
and put the Federal Deposit Insurance Corporation (FDIC) in charge
of dealing with what was left of this once thriving thrift institution.
The FDIC wasted no time, auctioning off remaining deposits- including
my $2.62- to [...]
Get out the Bubbly?- by Greg Strid
Sales of existing homes and condos increased 2.9 percent
to a seasonally adjusted annualized rate of 5.03 million,
crawling past the 4.85 million low-ball concensus estimate
from America’s practitioners of the dismal science- sometimes
known as economists. So, is it time to bring out the bubbly?
This marks the strongest showing for existing home sales
since last October. But, sales are [...]
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