It Continued To Go Up As Long As We Can Remember

The Times Tribune reports from Pennsylvania. "While data may show the recession has ended, the overwhelming consensus among participants in this year's Economic Forum is that it still feels like a recession in Northeast Pennsylvania. Misericordia University economics professor John Sumansky, Ph.D:...
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Just When It Looked Like The Lunacy Would Last Forever...

The Denver Post reports from Colorado. "The pitch was made to a group of San Francisco immigrants packed into a windowless Holiday Inn room over plates of cold chicken and glossy photos of Colorado vistas. Three years ago, Edwin Resplandor was tantalized by the deal: Put down merely $2,500 and he'd...
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Taking A Gamble That Prices Would Continue Upward

It's Friday desk clearing time for this blogger. "It's the eternal question for real estate obsessed New Yorkers: should you rent or buy? Now, we might finally have an answer. The New York Times created this awesome, interactive graph that calculates common expenses of buying and renting, spitting...
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Extreme Greed Was The Driving Force

The News Tribune reports from Washington. "Against the backdrop of tough hearings on the collapse of Washington Mutual in the largest bank failure in U.S. history, Sen. Maria Cantwell says there are signs that Congress and the Obama administration may finally be getting serious about Wall Street...
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You Can't Get Blood From A Turnip In California

Palo Alto Online reports from California. "Finding a house is hard in Palo Alto. The competition gets tougher for houses under $1 million dollars. Homebuyers might be wondering how much of a bubble could have popped in Palo Alto. 'Two years ago, or even a year and a half ago, the question buyers...
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Some Think This Is Madness

A report from China Daily. "How much should two chicken pancakes cost? For Zhao Rui, a 28-year-old company executive in Beijing, they cost him 400,000 yuan when he missed the chance to buy a home at a lower price during his lunchtime. In early March, Zhao settled on a two-bedroom apartment in...
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The FDIC And Shadow Inventory

The following is the first in a series we are pursuing on the shadow inventory held by lenders. We start with questions sent to the FDIC. 1. Are there any laws, regulations, or rules governing the length of time that can pass between the mortgagor’s first default and the initiation of the...
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The 21st Century Version Of Gold Rush Fever

The Miami Herald reports from Florida. "During the real-estate boom, when dilapidated houses in bad neighborhoods sold for $400,000 in Key West, buying an affordable home was impossible for most of the tropical island's backbone workforce. Then came the flooding of Hurricane Wilma, the real-estate...
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A Path That Was Totally Unsustainable

The Hartford Courant reports from Connecticut. "Investment giant Goldman Sachs & Co., facing federal charges of defrauding investors in selling them packages of risky mortgages, also could be investigated in Connecticut. 'There may well be a factual and legal basis to consider state investigation...
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