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Another Drop in Housing Prices?
Is another drop in housing prices on its way? Well, according to economist Gary Shilling the answer is “yes.”
In a piece that Shilling penned for the Christian Science Monitor, he said that he foresees another correction that could be as much as 20%. He believes that the only bright spot in housing markets these days is in multiunit rentals.
“Housing activity remains depressed, with the only life coming from the multifamily component, which is being driven by the zeal for rental apartments as homeownership falls.”
Of course, Shilling’s assessment is for the market nationwide. And there, he may very well be correct. As I mentioned in a recent blog posting, B of A has just changed Read the rest of this entry »
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Real Estate Scam Artists Targeting Lenders Now Facing Criminal Charges
If you read a lot of stories about real estate, it is easy to come to the conclusion that banks are made up of “bad guys”. They are all out to profit at the expense of poor, defenseless consumers. That is precisely what a lot of mainstream media sites would like you to believe. But the truth of the matter is that banks are made up of people who are trying to do their jobs the best way that they know how. Yes, there are some bad players. But you will find that in any segment of society. As proof of this, I offer you the tale of a real estate scam in which the lenders are the victims.
The LA District Attorney has just charged a group of people with defrauding CitiMortgage and MetLife Bank out of $2.3 Million in a real estate fraud scheme. In this scheme, the crooks used stolen Read the rest of this entry »
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Happy Holidays!
Just a quick note today to say Happy Holidays to you and yours! May you all have a happy and prosperous New Year!
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