[“Their stock has been doing very poorly of late, down from $125/share one year ago to about $16.50/share today.”] If this doesn’t scare the heck out of you, nothing will. The unparalleled concentration of wealth is accompanied by: domestic legislative power/influence international and domestic control of financial markets control of information/data distribution Together this represents too much control in the …
Short Sales: When Is The Price The Price?
As the Greater Seattle and Eastside real estate market continues to improve, buyers of short sale listing are being confronted with a new problem, and for some it is sticker shock. As little as six months ago short sale buyers could be fairly confdent that the list price was what a lender would accept, and maybe even a little less. Things …
Trapped?
Ever get the feeling that the deck is stacked against you. This Jan 31, 2012 article in the Seattle Times, Page 3, “Freddie Mac bets against struggling homeowners” justifies that feeling. If you’re self-employed, have less than 20% equity in your home, and currently have a mortgage interest rate in excess of 6%, don’t expect relief anytime soon. If you’re a …
It’s been quite a year…
200 9. That was a year full of challenges and changes. I stopped blogging about this time last year as it became apparent that I could no longer anticipate with any degree of accuracy what would occur next. Anticipating what real estate and financial markets will do is an important service that I provide to my clients. In the turmoil …
The Fixx (not the band)
An idea came to me yesterday while reading and listening to various opinions and objections regarding the stimulus package. It seems there is a consensus of concern about how to use the money to make the most immediate positive impact on the economy. How do we get it into the system WITHOUT the banks snagging it and sitting on it? …
OUR FUTURE BANKERS
Here they are, our State Representatives. “The Cop”, “The Mom in Tennis Shoes”, and “Whatever, I Need to Work Somewhere”. I’ve tried to locate the email addresses for these folks on-line to no avail. What they offer is a form on their respective pages to be filled out, along with a message, and sent into the ether with the hope that …
Damn Banks or…..Why Is it Taking So Long To Recover?
How do banks make money? They make loans. What if they don’t make loans? They sit on the money they have. What if they don’t have money to sit on? They threaten to fail and the Federal Government gives them money to sit on OR they “arrange” a managed failure with the help of the Federal Government, in the course …
Happy New Year 2009
So arrives another new year. Live your life! As 2008 closed out amidst concern, if not angst, over the economic turmoil that has consumed our collective national consciousness, I am perplexed. Is it the power of the media that has us running for cover….because it tells us to? Granted, major financial institutions and auto manufacturers failing is going to grab …
The More I Learn, The Less I know…..
As if things weren’t strange enough, the subscription service that brought you Monday Morning Coffee for the last few years ceased operations in June. Since then I have been musing as to what to do for the many subscribers that have enjoyed those weekly snippets of wisdom. A dear long time friend and client jarred me back to responsibility last week …
Housing Pessimism: Get Over It….
I suppose it is not fair to ask today’s prospective home buyers what all the fuss is about. Given the daily onslaught of negative media coverage of housing and the economy, it is permissible to be concerned about whether or not to take the plunge. However, I don’t understand the hand-wringing, mind warping fear that has gripped many home shoppers to …