September 2007
Economy by Joshua Dorkin | September 29, 2007On Friday, Gold hit a 27 year high as investors around the world ran to safety from the plummeting US dollar. Hitting $752.80 an ounce, Gold is at levels we haven’t seen since January of 1980. Additionally, the dollar index, which measures the greenback against six major currencies, fell 0.8 per cent to a record [...]
Learn Real Estate by Jim Watkins | September 27, 2007I read a blog posting recently on another site where someone commented that to sell an investment property faster, they should lower the asking price. That isn’t how the investor’s motto goes. “Buy low, sell below market?” I thought it was, “Buy low, sell high?” A simple comment from an investor suggesting that another investor [...]
BiggerPockets News by Joshua Dorkin | September 26, 2007I’m away on business . . . I’ll try to get some posts up for you all if possible. Sorry to disappear, everyone.
Housing by Joshua Dorkin | September 21, 2007Alan Greenspan revealed more about his thoughts on the Housing Crisis in Vienna, Austria today: “So far, prices have dropped only slightly. But it was enough to cause alarm around the world,” he said. “Prices are going to fall much lower yet.” “There is no doubt about the fact that low interest rates for long-term [...]
BiggerPockets News by Joshua Dorkin | September 20, 2007BiggerPockets has just launched Geo-Targeted Advertising! Are you an investor, real estate agent, lender, attorney, contractor, or other real estate professional or service? You can now promote your services to BiggerPockets Visitors in YOUR Metro area! Starting at only $5.00 CPM (Cost per 1,000 ad impressions) your ad can be seen by an elite group [...]
Economy by Joshua Dorkin | September 20, 2007I truly enjoyed watching the President lie through his teeth again in this morning’s press conference about how good the economy was doing. I’m not sure what economy he’s looking at, but it is certainly not ours. It seems like things just continue to decline here in the good ‘ole USA . . . The [...]
Investor Interviews by Joshua Dorkin | September 19, 2007Some people are all about business, and others are all about people and business. Jim is one of the latter. Not only has he been an active investor in his own right, but he has also established himself as a mentor and a leader. He has created 2 different real estate networking groups and continues [...]
Interest Rates by Joshua Dorkin | September 18, 2007The Fed just announced that it would be cutting the federal funds rate by 1/2 point to 4.75 percent. This is the first reduction in four years and will affect everything from credit cards to adjustable rate mortgages. Clearly this major cut is indicative of how bad the Fed thinks the economy is. It will [...]
Commentary by Joshua Dorkin | September 14, 2007According to the man who has been touted as the greatest central banker we’ve ever had, Alan Greenspan revealed yesterday that he dropped the ball during the birth of the Sub-Prime Mess. According to Greenspan in a 60 Minutes interview, “While I was aware a lot of these practices were going on, I had no [...]
Housing by Joshua Dorkin | September 11, 2007In the strangest news story I’ve ever read about the housing bubble, CNN tells us about a couple in New York that transformed their house into a brothel. Apparently, both were in the mortgage business, working for Myles Mortgage Services, and were facing foreclosure on a second home. Creative . . . but, probably not [...]
Foreclosures by Jim Watkins | September 10, 2007First off, let me clear up one thing that continues to confuse the masses… There is a difference between “Pre-Foreclosure” and “Foreclosure.” I am sure all of you have seen the advertising on various sites. “See a list of foreclosures in your area!” Over 90% of the time, they are technically a foreclosure but really [...]
Real Estate by Joshua Dorkin | September 10, 2007In an effort to analyze the current state of the economy, San Francisco Federal Reserve Bank President, Janet Yellen, shared with us her take on things:1 She said that declining home prices could hurt consumer spending, and that risks to economic growth would be “significant” if housing prices fall in the context of rising unemployment. [...]
Commentary by Joshua Dorkin | September 7, 2007The nation’s largest lender, Countrywide, tonight announced that in an effort to cut costs and essentially save the company, it would be cutting 12,000 jobs. The cuts, amounting to as much as 20 percent of its work force, are needed because the company expects new mortgages to fall about 25 percent in 2008 from this [...]
Real Estate by Joshua Dorkin | September 7, 2007The Labor Department today reported that payrolls fell by 4,000 in August for the first time in 4 years. What makes matters worse is that estimates were for this number to increase by 110,000. Job losses included those in manufacturing and construction. Clearly, we can see that the housing market is starting to affect all [...]
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Joshua DorkinMarty Boardman
Jeff Brown
Chris Clothier
Ken Corsini
Peter Giardini
Jason Grote
Clay Huber
Kevin Kaczmarek
Douglas Lazovick
Ziv Magen
McKellar Newsom
Brandon Turner
James Vermillion
Sharon Vornholt
Melissa Zavala
Michael Zuber
How Failures from the Maestro, Alan Greenspan, Lead to the Mortgage Crisis
by Joshua Dorkin | September 14, 2007According to the man who has been touted as the greatest central banker we’ve ever had, Alan Greenspan revealed yesterday that he dropped the ball during the birth of the Sub-Prime Mess. According to Greenspan in a 60 Minutes interview, “While I was aware a lot of these practices were going on, I had no [...]