Nobody said it would be easy, and it hasn’t been. I remember having conversations with…
Browsing: Market Trends, News & Commentary
In another sign of the mass chaos that has crippled the US housing market, the…
I realize I am not the only guy on this planet who reads the “news” as presented both in the newspapers and on the Internet. Even if I didn’t read the news, I’d get a good dose of what people are calling reality. That dose comes from the mix of clients our insurance agency serves. Lucky me…
Here are two sentences taken from two separate news stories:
“The coffers of the Federal Deposit Insurance Corp. have been so depleted by the epidemic of collapsing financial institutions that analysts warn it could sink into the red by the end of this year.” – AP
“Pending U.S. home sales rose more than expected in July to the highest level in more than two years as first-time buyers rushed to take advantage of a tax credit that expires this fall.” – AP
Is it me or are these two sentences sending conflicting messages. If it is me, I apologize upfront. However, I don’t think it is me.
According to published reports, so far this year, 81 banks have failed. Last year only 25 went down the toilet while in 2007, if you’re counting, only three went south. These same sources project hundreds of more banks are expected to fall. The primary reason given is due to souring loans for commercial real estate.
What’s that ahead? Is it….a corner? Is it…..THE corner? Are we about to turn it?
God, I hate cliches. But such is the case with a freshly minted Reuters dispatch headlined : “U.S. home prices turning the corner, up in 2010.”
I’m not sure if this differs from earlier reports that we were seeing the light at the end of the tunnel?
Actually, I sort of wonder whether the corner we are about to turn is right before we enter the tunnel, at whose end there is said to now be a light, or directly after we leave the tunnel, in which case ,wouldn’t that light at the end of it make it damn hard to see the freaking corner we are supposed to be turning?
Ok…this might be an academic question…but someone needed to raise it and it might as well be me.
Now, back to that corner we are turning.
Okay. I have waited long enough. I have sat back and watched as all those so-called “experts” came up with all sorts of schemes to save banks, car companies, brokerage houses, their own asses, space ships (maybe not space ships…but, hell, why not?) and democracy. It is about time I stepped in with my own schemes (I mean plans) to fix what is wrong with the entire housing/real estate market. I know this is bold of me, but someone has to do the dirty work and I figure it might as well be me!
Of course, I am not above stealing (I mean adopting) the programs of others for my own purposes. Does this make me a bad person? I think not! It may make me a politician, but not a bad person.
Cash for Stinkers
First, then—-we have cash for clunkers…why not cash for stinkers? All those homes on the verge of foreclosure