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    • Fri Sep 26th 14:30 PM | Rating: 0 0
      Commented on:
      How Does the WaMu Failure Compare?
      WAMU's demise came about by a run on the bank - yes. This run was caused by the government. I have a source at a major WAMU depositor (major real estate owner with all rental income running through WAMU) that was told by the FED to transfer all of their accounts to another bank. The deal to close WAMU was completed a few weeks ago and this "run" was not market based and is being used for politcal purposes.

      Behind closed door meetings, secret deals, insider information being given to selected parties - government gone extemely bad.
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    • Mon Nov 5th 23:26 PM | Rating: 0 0
      Commented on:
      Housing Bubble and Real Estate Market Tracker
      Housing values are based on supply and demand. The sticks and bricks cost are roughly constant with land value being the moving factor. Residential land value is set primarily by homebuilders. No homebuilder is buying land at this time and will not until things stabilize. Land values will continue to drop until homes can be delivered at an affordable price. Unfortunately the loose loan underwriting that was supposed to create greater homeownership caused land values to reach unstainable levels and now the entire country's residential land/housing is being repriced. The end result is that probably more people will loose their houses than were helped. The hangover and lingering effects on the economy will last several years.
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