Oct

31
2008

After the tsunami

Channing Dawson

Steve Jakubowski, writing here on March 16, 2006, may have been the first to connect the two words "subprime" and "tsunami" when he wrote:

"History has shown that 'hockey stick' growth patterns in the subprime industry are more likely caused by looser adherence to underwriting standards than by increased demand for subprime products among qualified borrowers. If, in fact, looser credit standards have driven the current exponential growth since 2000 in subprime lending, then waves of defaults will be "tsunami-like" in proportion."  more...

Oct

20
2008

Building after the bailout

Flickr photo by <a href="http://flickr.com/photos/christofferengstrom/2852690611/">ChristofferEngström</a>.

The Emergency Economic Stabilization Act of 2008 (EESA) was adorned with billions of dollars in earmarks. Still, it seems there was little room for home builder interests, except the one that's so broad-sweeping that even bi-partisan "frenemies" can all stand behind it: The restoration of confidence.

Today, the only constant is change. As Congress moves from crisis to crisis, scrambling to quench whichever fire burns brightest at the moment, we're left to consider: Just what does all this mean?

The devil we know  more...

Letter to Editor

Shed more light on bailout plan

Re: 'Rescue Sidesteps Economic Black Hole' (Oct. 17)

Dear Editor:

Well, for one in the depths of this trench I have to give a huge "amen." I've been in real estate since '87 -- starting in sales of new homes. I've owned my own brokerage, been licensed in three mountain region states, sold commercial and residential properties, was in commercial and residential property management, and I am currently working the other side of the equation in title insurance.  more...

Oct

15
2008

Letter to Editor

Bruss: Don't buy if you can't afford it

Re: 'Remembering Bob Bruss' (Sept. 26)

Dear Editor:

I usually don't take the time to respond in writing to articles that appear in your fine publication, but Jessica Swesey's tribute to Bob Bruss really struck me.  more...

Oct

2
2008

Opportunity Street is still knocking

The news just keeps on flowing -- and almost all of it bad. In real estate, as in financial markets, there are always the people and companies that focus on the other side of bad news: I'll call it the "Street of Opportunity."

If you sit and listen to the commentary on the current financial crisis, 98 percent of the information flowing is about why it happened and who is to blame. The funny thing about the "why" and "who" conversation is that there are hundreds of different opinions.  more...

Oct

1
2008

Letter to Editor

Healthy markets require risk

Re: 'Real estate industry sells 'rescue' plan' (Sept. 30)

Dear Editor:

I'm not convinced that the markets -- real estate, stock, etc. -- are on the edge of collapse. Nor am I convinced that the "bailout plan" as presented is the right way to go. The last time I looked, a "market" was fueled by supply and demand, profit motive, and yes: risk! When is a market not a market? Answer: When a parachute is provided, removing the element of risk.  more...

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