While hanging out in downtown Atlanta the other day, I came across the intersection of Walker and Nelson streets. While the streets were very clean, the pristine buildings that outlined this intersection were mostly empty and quiet. This first picture really told the story of what happened to this area with so much potential.
Armed with [...]
“Florida is set to be one of the bargain hotspots of 2010 for real estate investors with some properties selling for as little as $47 a square foot, according to a new report.
[...]
Florida’s loss can be a UK buyer’s gain, according to Charles Peerless, director, Winkworth International. ‘With low prices on a wide range of [...]
Commercial real estate is a hot market, for court-appointed caretakers
FDIC’s Bair:Expect Higher Commercial Real-Estate Charge-Offs
Crooks who take advantage of desperate people and desperate people who do not take the time to read.
(propublica.org) “Real estate professionals and mortgage brokers are the driving force behind the boom. Indeed, some of the same brokers who stoked the housing boom are now making their living off homeowners stuck in the sort of [...]
I’m a bit under the weather today, so I’m gonna keep this one short.
# The animals are getting restless
About two months or so ago, me and the kids sat down to watch this movie Animal Farm via YouTube. I saw this as a kid and thought it would be an interesting way to show them [...]
Here are some quick hits worth checking out.
There is no second foreclosure wave because we still haven’t completed the first one.
Foreclosure wave gathers momentum
Ramsey Su: Has Real Estate Bottomed?
$500 Million Slated for Purchase of Eight More Planes as Lawmakers’ Travel Soars
Will Congress be made to drive to DC now that this news is out?
Wind Promises [...]
From Bloomberg (4/24/09):
Known as the “HomeSaver Advance” plan, Fannie used the program to provide “foreclosure prevention assistance to distressed borrowers,” according to its 2008 securities filing.
The plan entailed Fannie funding loans to help distressed borrowers get current on their mortgage payments. Fannie said there were about 71,000 advances made in 2008 with an average value [...]
Living here in SoCal, I have a front row seat to our nation’s hurting housing market.
It has become cheaper to tear down new or partially-built homes then placing them on the market–only to sell them at a huge loss. According to the guy in this video, the bank that owns this property received TARP funds. [...]
From CNN
Nearly 23,000 homes in Riverside County alone are listed as “bank owned” on RealtyTrac. One in 80 homes is now in the foreclosure process, according to the county assessor’s office.
“Riverside County is in the middle of the mortgage meltdown,” says county assessor Larry Ward. “It’s really tough on people, the foreclosures and prices that [...]
Some quick thoughts.
Perhaps there some magic out there I just have not seen. Unless there is a mandate in this bill to lower the principal amount, I just do not see how simply lowering the interest rate (unless it goes down to something like 2-4 percent) is going to have a major impact.
Obama unveils $75B [...]
Wayne Dawkins for blackpower.com writes:
Howard University economist William E. Spriggs broke this down to two dozen African-American newspaper columnists last month. Spriggs summarized “Subprime as a black catastrophe,” by Melvin L. Oliver and Thomas M. Shapiro that was published as a special report of The American Prospect magazine.
American borrowers of color have collectively lost an [...]
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