Jun 9 2013

The return of irrational exuberance to Las Vegas: The growing worries of another Las Vegas housing bubble.

It is rather clear that large institutional investors are diving into investment real estate once again.  This time these investors are supplanting individuals but are targeting very familiar markets in Arizona, Nevada, and Florida.  One of those markets is Las Vegas.  Las Vegas had one of the most spectacular real estate bubbles that we have […]

Oct 17 2012

Inflation by any other name – Rising rents have pushed up the CPI to highest monthly change in three years. Shifting the Fed bailouts onto the working class and poor.

The Consumer Price Index (CPI) attempts to measure the change in price for a basket of American goods and services.  I say attempts because measures like the “owner’s equivalent of rent” are simply an estimation as to what a home owner’s place would rent for.  In the early 2000s with home prices surging, it missed […]

Jan 9 2012

Las Vegas real estate and the dynamics of a lower priced housing market – With median home prices around $100,000 they now reflect the reality of a lower paying service sector economy. Foreclosures and short-sales make up over 70 percent of all sales activity.

Las Vegas is a case study in the limits of the housing bubble but also the reflection of a new economy driven by a demand for lower price real estate.  Wedged in the story of a collapsing real estate market is a new reality that many families are craving lower priced properties.  Few places in […]

Oct 3 2011

Living paycheck to paycheck with the housing albatross – Survey finds one in three Americans unable to make their mortgage or rent payment beyond one month if they lost their job. 61 percent unable to make payments beyond five months.

One of the unnerving revelations brought about by the current recession is how many Americans are living precariously close to the economic edge.  The Band-Aid of credit cards, home equity loans, and other vehicles of debt masked the problem for many years.  Debt was rolled over on a continuous basis and as long as the […]

Sep 19 2011

The banking gears of housing – Bank of America sells mortgage servicing rights on large loan pool to Fannie Mae. 400,000 loans shifted to Fannie Mae with $73 billion in unpaid principal.

Things just seem to get more perplexing with the housing market.  Back in August the Wall Street Journal discussed a deal between Fannie Mae and Bank of America.  The deal is odd even for the current banking system we have in place.  It was reported that Fannie Mae purchased the servicing rights to 400,000 loans […]

Aug 22 2011

A banking system built on lies and deception – Hiding commercial real estate losses by laundering bad loans through the Federal Reserve. Trillions of dollars in bailouts were made while banks told the public all was well.

Part of the massive challenges facing our brittle financial system is the opaque and secretive nature of the Federal Reserve.  It is difficult enough to confront a challenge with all information present but make it purposely convoluted and dark and we have a crisis of historical proportions.  The recent market volatility is simply a dire […]

Aug 3 2011

The 20 year financial depression in American real estate. Why housing will remain a poor investment well into 2020.

The American housing market is floundering like a fish out of water.  The economy is puttering along as middle class Americans confront a quality of life that is declining.  Household incomes have fallen for well over a decade yet the dialogue from Wall Street and their political partners seems to focus on home prices rising.  […]

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