The multifamily investment industry as well as the market was hoping to see something positive happen this weekend that might signal a bottoming of the meltdown. Unfortunately for Lehman Brothers, there was nothing positive at all. Bank of America who was one of the few remaining companies hav
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09/14/2008
Lehman Brothers (LEH) getting desperate now. Unfortunately CEO Richard Fuld may very well be on the way sooner rather than later. Fuld was unable to convince investors that the 158 year old firm had a plan to put the mess behind them. The Feds brought some of the world’s major banking heads tog
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09/13/2008
A multifamily investor asked my opinion (for what it’s worth; about the same as Lehman Brothers stock) on the time table for this nightmare to end. He was the same investor who thought I was crazy in early 2007. The quick meltdown of New Century certainly opened our eyes. There’s nothing like
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09/12/2008
What was the real reason behind the Fed bailout? The huge jump in home loans that started the housing bubble around 2003 was a result of foreign investors including governments or central banks moving into the higher paying Mortgage Backed Securities (MBS). These same investors were previously bu
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09/11/2008
It's been almost 3 business days since the takeover and the impact on multifamily investing remains unclear. Most of those in the know have not commented or provided any indication of a change in the increased multifamily funding. The experts who keep track and rely on Fannie Mae and Freddie Mac
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09/10/2008
Lehman Brothers Holdings Inc with all its past billion dollar earnings and history is now holding just about zero. Actually less than zero when you begin counting the mortgage related write downs on their books. The write downs to actual worth of the current market value of the billions of doll
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09/09/2008
Reading over several articles this weekend and this morning, one item stuck out clearly for me. The GOOD news is every American taxpayer is now a real estate investor who owns trillions of dollars worth of real estate mortgages. The BAD news is every American taxpayer is now a real estate inves
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09/08/2008
The Fed takeover of Fannie and Freddie came as no surprise with speculation running rampant for weeks on how not when it would happen. Many analysts felt that some sort of capitalization from the Feds would be the best approach as it would best serve the faithful investors (and speculators) who
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09/07/2008
It’s apparent that our banks are not made of steel like superman. The latest bullet is the HELOC. All of the major banks are reporting the highest delinquencies in more than a decade. The biggest concern is the plunging home values of homes making a huge amount of the loans basically u
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09/05/2008
Multifamily property sales posted a 20% sales gain month over month since March despite an overall YTD commercial real estate investment drop of 70% in sales from last year. Chattanooga, Georgia and Tennessee sales have been slower than the national reporting averages due in part to the previous
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09/04/2008
