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Monthly Archives: October 2011
Homeownership Craters
There’s been many crests and falls in homeownership throughout the history of the United States. We’ve seen vast expansions and cataclysmic crashes. Homeownership was at historically stable levels at the start of 2000 right around 64%. It peaked out at … Continue reading
Why the Economy’s Created Real Estate Opportunities
When the economy fell off the table people were running scared. But the really smart people were secretly taking notes and inhaling a deep breath. They knew opportunities would be numerous. Governments at all levels are drowning in debt. Cities … Continue reading
Tidal Wave of Foreclosures On the Horizon
Bank of America is facing many more problems regarding its troubled mortgages. Most of these stem from its acquisition of Countrywide. Of 14 loans which were independently reviewed 7 of them had “material underwriting deficiencies”. This means a failure of … Continue reading
“Rich Dad, Poor Dad” Author Robert Kyosaki Vigorously Buying Apartment Complexes
Robert Kyosaki appeared on a financial news show saying he’s made more money over the last 3 years than he ever has in his life. So what’s the biggest thing he’s buying right now? 300 unit to 800 unit apartment … Continue reading
Posted in Uncategorized Tagged Apartment, apartment housing, Cash flow, Free Cash Flow, housing market Leave a comment
Lowball Appraisals?
Before the housing market tanked in 2006 appraisals were mostly a formality. Prices just rose and rose and pretty much any appraiser would just rubberstamp a number the buyer wanted to get the deal closed. As long as there were … Continue reading
Posted in Uncategorized Tagged Appraisal, Appraiser, real estate, Real estate appraisal, Real estate economics, Residential Leave a comment
Jobs Bill Hijinks
The Democrats have proposed a 5% tax hike on people earning $1 million or more per year. This has been popularized by media outlets and some in the public. The popular discriminatory refrain is always “they can afford it.” The … Continue reading
Mortgage Rates Crater to Unheard-of Levels…30 Year Fixed Under 4%
Today marked the first time ever you could get a 30 year fixed rate loan for under 4% interest rate. This absolutely ludicrous for banks to loan you money over 30 years to buy a house at only 3.94%. What … Continue reading