By Don | April 28, 2009
The House earlier this year passed their version of giving Bankruptcy judges authority to modify ( or “cram down”) homeowner loans in the housing rescue bill, but that provision has stalled in the Senate under heavy pressure from the banking industry. Read the rest of this article »
By Don | March 19, 2009
After yesterday’s post about the Fed pumping 1 trillion into bond purchases, Bill, a client, emailed me this website that pictorially shows what one trillion dollar bills look like – unbelievable! Thanks Bill.
By Don | March 18, 2009
Driving down to San Diego today to attend the Tenant in Common Association’s spring conference, I was blown away listening to the radio that the Federal Reserve will buy up to 1 trillion dollars of bonds. Huge news! It was reported that this caused the most significant drop in yields on 10 year Treasury bonds since at least 1962. But how does this affect potential homebuyers? Read the rest of this article »
By Don | February 18, 2009
President Obama just concluded his speech in Mesa, Arizona, and announced another leg in the stool of attempting to curtail the housing crisis. Here are the salient points of the plan.
By Don | January 30, 2009
Congressman John Conyers (Democrat – MI) wrote an opinion piece today in the Wall Street Journal explaining his belief that bankruptcy judges should be given the power to modify home loans to stop the foreclosure crisis. Read the rest of this article »
By Don | January 30, 2009
As part of the $800+ billion stimulus package passed by the House yesterday, the $7,500 first time home buyer credit was modified so that it is a true credit, and not more of a loan. Read the rest of this article »
By Don | October 10, 2008
I got back from a 3 day conference (Tenant in Common Association) in Las Vegas this week and everything seemed to revolve around the 900 pound gorilla in the room – Wall Street’s meltdown. Read the rest of this article »
By Don | October 3, 2008
We’ve gone from a 3 page bill to a 110 page bill (defeated) to the Senate’s 451 page bill (passed). Hmmm…
If you thought our political process was all about helping “Wall Street” or “Main Street” or the “homeowner”, think again! The first and overarching priority is to keep your job. Read the rest of this article »
By Don | September 30, 2008
OK – Congress didn’t pass the bailout bill and the market tanked 777 points. Now what? Listening to all the talking heads on Bloomberg and MSNBC this morning before the market opened, it seemed to be all about who was to blame for the failure. But then, when the market opened, it jumped over 200 points! As I write this at 9 a.m., it’s up 298 points. Read the rest of this article »
By Don | September 29, 2008
Politicians have been posturing that the bailout should help “Main Street” vice “Wall Street” and should help “homeowners” – whatever that means. The governor of New York, David Paterson, wrote an op/ed piece in Saturday’s Wall Street Journal with that headline. Read the rest of this article »