The News From Case-Shiller: No Bottom In Sight
The Case-Shiller home-price index fell in all twenty metro regions studied, the first time the index has measured a decline on a year over year basis in every market. The average decline in April was...
View ArticleShort Selling Wizard Closes On East Side Tower
Cityfile reports that Jim Chanos has closed on a triplex at 3 East 75th Street (neighbors!). Chanos paid $20.365 million two months ago for the 7,800 square foot space. In the same way that rich people...
View ArticleThe Pete Peterson Hook Up
We’ve always wanted to be friends with Blackstone co-founder Pete Peterson because he’s sure to have some side-splitting tales about watching Steve Schwarzman try to masturbate and/or sleep in a water...
View ArticleRush To The Exits
Megan McArdle throws a wrench in the running gears of foreclosure assistance with her “lunatic proposal for the day.” Specifically: …why not make it easier to move homeowners out of homes they can’t...
View ArticleLet It Fall (But Get Out Of The Way)
Reuters-blogs (yes, Reuters has blogs like everyone else) is running a James Saft op-ed piece today that bears a stinging but cogent message: Let Housing Crash. Ok, it might be a bit late, housing...
View ArticleThe Trouble With Appraisal Reform
The story of appraisal hasn’t gotten much play in the housing crisis narrative, and this is a significant oversight. Several reports on IndyMac highlighted issues with appraisal, but for whatever...
View ArticleTim Geithner Getting Crap For Trying To Save A Little Cash, Maybe Helping A...
Around these parts, we’ve talked about Tim Geithner’s housing troubles at length. The Treasury Secretary and his wife Carole bought a Larchmont Tudor in 2004 for $1.602 million. Then buddy boy got a...
View ArticleJohn Paulson Probably Just Bought His Third Cousin A $2.85 Million Apartment
September 28, 2010: “If you don’t own a home buy one,” Paulson recommended. “If you own one home,* buy another one, and if you own two homes** buy a third and lend your relatives the money to buy a...
View ArticleFormer Goldman Sachs Partner Donald Mullen Wants To Unclog Your Sink
Former Goldman Sachs executive Donald Mullen, one of the architects of the subprime mortgage trade, is trying to raise at least $500 million for a fund that will buy foreclosed homes with an eye toward...
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