Jan 19 2010

Credit Card Companies Pulling Back Credit Offers to American Households: Those Zero Percent Offers have now Turned into 30% Offers with Annual Fees. Banks have over $2 Trillion in Excess Reserves yet are unable to Offer a Decent Credit Card Rate.

Credit cards are ubiquitous like air in the American economy.  Virtually every American that can qualify for a credit card has one (or many) in their wallet.  Credit card companies have flooded the market with millions of plastic rectangles that have now come back to bite many American consumers.  If we rewind back to the […]

Jan 15 2010

Commercial Real Estate Surpassed Residential Real Estate as Worst Performing Property Class in 2009: The $3.5 Trillion Financial Time Bomb is hitting the Economy.

Some of you are probably not aware that the commercial real estate market has crossed a dreaded line in the sand.  Commercial real estate (CRE) that includes apartments, industrial, office, and retail space is now performing worse than residential real estate.  Not just by a little but by a good amount.  While the CRE bust […]

Oct 26 2009

Commercial Real Estate Implosion: 67 Percent Fall in Multifamily Starts, Ghost Buildings, $3 Trillion in Debt, 41 Percent Drop in CRE, and Collapse in Rents.

Driving along the highway at night, it is an eerie sight to look at some of the vacant buildings.  The lights are on but the floors are empty awaiting an audience that will never come.  Can it be that commercial real estate, with over $3 trillion outstanding be in worse shape than residential housing?  In […]

Sep 30 2009

Option ARMs in Financial Pain: 900,000 Mortgages and 1 out of 4 either Seriously Delinquent or in Foreclosure. OCC and OTS Report Shows Foreclosures Still Growing.

It is interesting to see new data being published regarding Option ARMs in the new OCC and OTS report.  According to the recently released report, there were 900,000 active Payment Option ARMs in the United States.  What is troubling about the current report is the performance of these loans.  Many of these loans are located […]

Sep 2 2009

FDIC Insured Institutions have $13.3 Trillion in Assets. 8,195 Banks and 116 Institutions Hold $10.2 Trillion of Those Assets. One out of Four Institutions Unprofitable. 1,000 Banks Will Fail or Merge.

The banking system has taken the country to the financial edge of the greatest recession since the depression.  The enormous number of bad loans floating out in the economy only complicates the unemployment situation.  When we look into the latest banking data, we realize that over 1,000 of current banks will fail or merge with […]

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