gordon

Finally, Some Disclosure from Companies That Received Bailout Funds

correction: the interest the Fed pays banks/excess reserves is now zero, we'll see if
this spurs lending soon.

Finally, Some Disclosure from Companies That Received Bailout Funds

The banks are doing exactly what I would do if I headed one. Remember, the Fed is paying INTEREST to them on the reserves, you hoard it! Year end bal sheet is paramount, and they never know when the Fed/Treasury will change the rules on them, ie: forcing mark-market on their CDSs/ bad loans. Seems logical to me.

Paulson's Plan Fails to Understand the Problem; Madoff Is a Perfect Example

I voted for Obama, but all of us who did should be LOUDLY protesting his plans
to escalate war in Afganistan, using Iraq (4-5 deployments) troops! He must be stopped. His plan to build roads is also a pie-in-the-sky because all the engineers will soak the gov't and illegals will take all the laborers jobs and cement
work, etc doesn't employ all the trades like commercial real estate does. Also,
there's a big time lag with municipalities even after approval of plans, environmental impacts, etc, so I am sure over 2 mil jobs created is wildly speculative, but he's all we got, and better than the last 8 yrs of corruption.

US Housing Inventories Reach Record Highs

We work for homebuilders (arch.), Lennar our biggest client, Inland Empire, they are juggling site maps to finish out the permitted lots, where they already have street improvements finished per const. loan.
They aren't starting new projects, but trying to appease the initial phase buyers who fear living in a ghost town, even if it means inserting lower-priced floor plans from other existing communities.

US Housing Inventories Reach Record Highs

Griz- apparently foreclosures are moving quickly in SoCal, we are in Carlsbad, 92011, N.San Diego, I think you should bid 60-65% of asking price on a distressed sale, approach the owner who is renting. Don't forget, Oceanside is only a 20 min drive to Irvine, although not the best zip code, there are pockets of decent neighborhoods, lots of foreclosures.

Jacko- sounds like a good deal. Always think price/sq ft. Almost all new home product is still $300/sq ft, the townhomes here in San Diego. This is WAY TOO HIGH in this environment. If you paid under $200/sq ft you did well, that's kinda my benchmark. $150/sq ft ideal. (2000 sq ft for $300K) Obviously, schools, location influences paying more.

No Pain, No Gain: The Price Of Avoiding A Recession

CNBC classic ignoring of the REAL GDP story, as they continue their assaults on higher wages as inflationary and "free" trade is good for American workers:

Revised data released Tuesday showed that the slowdown in productivity growth was even more pronounced than previously believed. The government said that productivity rose by just 1 percent last year, down from a previous estimate of 1.6 percent. For 2005, the increase was 1.9 percent after a 2.7 percent rise in 2004. Previously, 2005 had been put at 2.1 percent and 2004 at 2.9 percent.