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Fair enough, congratulations on a hell of a deal if bay area means the same thing to me as it does to you. Would you mind sharing the zip code?

There is something not right about this, bay area, are you sure?

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aqnsawHvxyCQ Rents fell in 75 percent of apartment buildings in New York last quarter, up from an average 37 percent in the prior three quarters, Reis found. “We haven’t seen this speed of decline before. Reis expects default rates to...

Its all the single family people downsizing. Apartment rents holding up well here in Boston, in many cases are higher than SFH rents I think in part because people are trying to cut costs and don't want the higher utilities of a SFH, the landscaping and snow removal costs, and also they are...

Isn't part of the stimulus package a $7K buyers tax credit? Does that mean you can buy a house for $1K and get $7K from uncle sam :D

Seems like sound advice to me, only wrinkle might be if the Senate passes the bill that allows everyone to refinance at 4.5% as long as DTI ratio and credit scores qualify, but LTV would not be a factor which would allow even people underwater to refi.

If you can't use futures then these instruments might work for you. http://www.nasdaq.com/includes/british-pound-specifications.stm

Guess it comes down to whether you would rather be the US or Iceland? Do you like salted or pickled herring? :)

Not too many minorities in the segment with the fastest growing defaults: jumbo prime. As far as coming up next: class action by minorities for being targeted for predatory and fraudulent lending practices. Seriously anyone who now wants to make this about ethnicity, when all this garbage...

By they I assume you are referring to those in Washington who pushed banks to take on way too much risk in the 1st place, it appears that they are still at it despite the current debacle, though I doubt it is ouit of greed as much a fear right now. FDIC has traditionally been one of the weaker...

I had dinner with the director of a regional privately held bank this weekend and was told that they are being pressured on the one hand by the Fed or its reps to meet their obligations under the CRA but on the oher hand getting scrutiny from the FDIC for any risky loans. They have choosen the...

The Russian protests were a flop, a non event, very few turned out and what that peice doesn't say is that there were also pro gov rallies that dwarfed the size of the protesters, mostly old people.

With all the bailouts, ridiculous mortgage mods ($1M for $900 a month on a $800K property at WaMU), foreclosure moratoriums etc it may be years before that happens, in the meantime there will be little economic activity (economic activity by definition occurs at points of price equilibrium) so...

Midterms? :)

Lets sell Alaska to the highest bidder, they get a discount if they take Palin too :D

Not to mention the fact that they are desperate to keep additional losses off the books, especially with the TARP blocked. That's why we are seeing loan mods of 1% IO on properties that are couple $100K under water, anything to keep from having to books a loss on a foreclosure. The really big...

Already happening in the UK and France with their strikes, and Marks' tactics with the NACA could also qualify. Imagine what the situiation would be like as far as social unrest goes if Mccain had won instead of Obama. One could argue that his election kept a lid on things, personally don't...

Agreed, some foreclosures are going for 50c on the dollar. For non foreclosure properties though, it really depends on geography and market segment.

The subprime is over already (2500 sq ft for $2K a month? maybe in the south or out in the boonies somewhere but not in any NE or mid atlantic city), the fastest acceleration in foreclosures is the jumbo prime and I can assure you that rents are still much cheaper in this segment than buying...

because rents are about to fall significantly making it even less attractive to buy. http://www.bloomberg.com/apps/news?pid=20601087&sid=a7INRK.nOrqc&refer=home http://www.usatoday.com/money/economy/housing/2009-01-29-freddie-mac-rent-foreclosure_N.htm...