Real estate trends, community events and other stuff happening in Branchburg.
“A government issues the medium (the currency), and the government can debase it at will, for whatever reasons it deems worthy. But if the medium—the currency—is debased to a tipping point, then the economic participants will no longer believe in the currency’s worth. They will therefore run from the currency, and turn elsewhere to fulfill the need that money satisfies, which is: To store wealth, and to act as a medium of exchange.”
It’s one thing when your deadbeat neighbor strips the copper out of his house, lets the weeds grow a foot high, then mails his keys back to the bank. It’s quite another when Taubman, SPG, Vornado and Morgan Stanley do it.
“Banking-industry officials and others have argued that homeowners have a moral obligation to pay …
From a site I never heard of before, called Reason.com:
“Something called the National Consumer Law Center criticizes state mortgage-mediation schemes as well as the Obama Administration’s Home Affordable Modification Program, which at last count had managed to prevent 235,247 homes from coming onto the market. However, data from the Federal Reserve and the Office of …
Could this explain why banks aren’t looking to lend?
How do we square this with any kind of talk of recovery being underway?
Here’s a little message I sent off to a friend on April 22, 2009. I made a mental note to come back to it in the Summer. I now submit this as my application into the Junior Nostradamus Club of America:
“To me, it’s 100% about revenue streams off the MBS. As commercial RE prices deteriorate …
The Kool-Aid Brigade wants you to know that prices have stabilized. They may have…but not in this universe. Check out the handful of truly scary graphs (courtesy of James Bednar, at the excellent NJ Real Estate Report) at this permalink (you may need to copy & paste in your address bar):
http://njrereport.com/index.php/2008/02/06/north-jersey-january-residential-sales/
This is chilling stuff. We …