More info…
“The Senate Banking Committee on Thursday heard from regulators and industry players on the progress of foreclosure prevention efforts including the Making Home Affordable Program, which has been criticized for what seems to be a slow start.”
It would be one thing if Goldman and JPMorgan would have escaped the crisis, and applied real smart -legal- techniques to make a killing in the face of adversity. They haven’t. They can stand up straight the way they do today, they can pay their hefty salaries (hefty in the real world), simply and only because the tax revenues collected from the people who are now thrown out on the street, both at their jobsites and at their homes, have been used to prop up Goldman but not the very people who’ve paid those taxes.
There is something so inherently wrong about this that there is no chance at all that it will turn out good. We’re not talking some kind of honest mistake here.
Radio Free Wall Street 7/16/09
Lee Adler, Russ Winter, and Aaron Krowne discuss the CIT collapse, Calpers suit against the ratings agencies, the impact of the lack of accountability, and the outlook for the stock market.
Banks and other firms that provided such loans in the past have sharply curtailed lending. That has left many developers and construction companies out in the cold. Over the next few years, these groups face a tidal wave of commercial real estate debt some estimates peg the total at more than $3 trillion that they will need to refinance…. Factoring in construction and commercial loans you arrive at a stunning 26 percent of all loans in FDIC banks and thrifts. This is a staggering figure and the U.S. Treasury is well aware of this. The question isnt whether there will be major defaults here but who will shoulder the cost? ”
“For years, one of the most important ways to finance affordable housing has been through the sale of housing tax credits to wealthy individuals. The buyers got the tax benefits, and developers of housing for workers got the upfront cash to subsidize housing that working people could afford. Enter the recession, and the tax credit market dried up.”
Related Websites -
Ben Stein Not Hot On Real Estate Here's an excerpt from Ben Stein's column about why he thinks real estate isn't such a great investment.That means the house has kept up with inflation -- barely.In fact, when I do the math, I realize that it hasn't fully kept up with inflation. Plus, the owner would have had...... -
The Mortgage Crisis and Investments in Real Estate According to regional and state real estate analysts, the factors which previously fueled the housing boom of the last few years are easy to explain. The factors that fueled this boom in the real instate industry ranged significantly, including: - Interest rates that were historically low. - Flight-Risk Safety Investments...... - Basic Tips To Help People Invest In Real Estate It's not hard to invest in real estate, but you have to be careful and plan properly. It doesn't matter where you are in your investing carrier, these 3 basic tips will help anyone stay on track. While these investment tips seem almost too basic, it's the basics that keep......
-
Commercial Real Estate Investing For Beginners: You Bought a Course From A Real Estate Guru? What the HECK did I just buy from that fast talking clown? Will This Real Estate Investing Course Work For Me? Emily Cressey Real Estate Investor and Coach When you're just getting started in real estate investing, it's easy to get caught up chasing big dreams and money. Especially...... - The Coming Real Estate Crash? Foreclosures Up 79%. In California, that is. I am sure it not as high other places, but a 79% jump in foreclosures is a pretty big jump, wouldn't you say? According to Inside Bay Area, California had 16,273 foreclosure filings in February, up 79 percent from a year ago which does not bode......
You must log in to post a comment.