Brian A. Davis

Lax Underwriting , Foreclosures, and Credit Crunch Stimulate Misery Industries

Jimmy,

Thanks for your work in the real estate market, specifically for those who could well be the most under-represented in NY. I'm curious though if you note a market increase in financial woes for the corporations of residential real estate as well. I am convinced that commercial real estate is only starting to show its cracks.

Secondly, in several of my articles I have cited examples where lenders are "refusing" to foreclose on properties here in the Midwest, is that the case in NYC as well? Evidently, NOBODY wants additional losses on their books. Are there laws which which force a lender to reposes a property?

Last, I'm glad you are bringing the likes of Kiyosaki and Sheets to task. I believe both have both have gone into hiding since this mortgage meltdown has taken place. In one anecdote, a Sheets follower was single-handedly responsible for destroying Cleveland's Polish neighborhood when his 56 property dynasty collapsed.

Respectfully,
Brian A. Davis

P.S. jjason,
Deficit spending in general can be blamed when it comes to government. Both Republicans and Democrats have enough blame to go around. I am a social conservative, and really wish there was a viable third party candidate... Call me a swing vote at this juncture... Let's go back to a day when individual rights and responsibilities are preached, and everyone recognizes that we are all held by a social contract. One thing is certain, people (including myself) have lost faith in the current regime!