recession

“And, The Debate Goes On”: To Invest Or Not To Invest In An Upside Down Real Estate World

by Charles Feldman | April 23, 2008

In the 60s, Sonny & Cher (before Sonny crashed into a tree while skiing) had a big hit with the song “And The Beat Goes On”–or something like that. Now, in real estate, 2008, a good song title might be “And The Debate Goes On!” The “debate” is whether or not this is or isn’t [...]

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Commentary

Why People Who Think Real Estate Mess Will Soon Improve Are Wrong

by Charles Feldman | April 9, 2008

How is this for a blunt statement: If you are one of those who believes this subprime real estate debacle is going to turn around anytime soon, you are wrong! I’m not saying you are probably wrong. I’m not saying you may be wrong. I’m not even saying that more than likely you are wrong. [...]

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Real Estate News

Economy Continues To Take A Beating From Housing Crisis Fallout

by Charles Feldman | March 7, 2008

The economy is sinking faster than a mafia hitman wearing cement shoes in water; and, the mortgage/housing crisis is clearly to blame. Wall Street was apparently totally shocked today when the Labor Department reported that 63, 000 nonfarm jobs were lost last month….As Reuters points out, the problem is that Wall Street experts had expected [...]

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Economy

2008-Year of The Implosion?

by Charles Feldman | January 2, 2008

Nothing like kicking off the new year on a positive note. And, I can assure you, what you are about to read is anything but “positive.” In fact, when it comes to the ever expanding subprime mortgage fiasco,the fun, say some experts, is only about to begin. Before 2008 slips into 2009, some 1.8 million [...]

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Housing

Housing Crisis Hits California Economy Like Ton Of Bricks

by Charles Feldman | November 6, 2007

Anyone living in California knows that it is the aftermath of an earthquake that reveals its true intensity, not the numbers generated by some graph at a university. An earthquake is really measured in dishes broken, windows smashed or, in the worst cases, houses destroyed. And so it is that in California, the aftermath of [...]

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Commentary

Breaking: Home Prices in US Down Again – Eight Months in a Row

by Joshua Dorkin | October 30, 2007

Looks like the news continues to get worse . . . I wonder what silver lining the Administration is going to spin this time? U.S. home prices fell nationwide in August for the eighth consecutive month, offering little hope of a turnaround anytime soon, according to the S&P/Case-Shiller index released Tuesday. Things could get worse, [...]

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Housing

Breaking News: Existing Home Sales Fall by Largest Amount Ever!

by Joshua Dorkin | October 24, 2007

Sales of existing homes plunged by a record amount in September as turmoil in mortgage markets added more problems to a housing industry in its worst slump in 16 years. The National Association of Realtors reported Wednesday that sales of existing homes fell 8 percent in September, the largest decline to show up in records [...]

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Commentary

Nation’s Largest Lender to Slash 12,000 Jobs

by Joshua Dorkin | September 7, 2007

The 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 [...]

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