Real_estate_connect

I am speaking on a panel tomorrow at the Real Estate Connect NYC 2008 conference:


The Housing Debate: Bull vs. Bear

Wednesday, January 9, 3:30 p.m.
– 4:15 p.m.

Where is
the housing market headed? More doom? Stability? Or modest recovery? Join this
lively debate between housing bulls and bears who present differing views of
housing’s future. 

Panelists:

Dottie
Herman
, President & CEO, Prudential Douglas Elliman
Barry
Ritholtz
, Director of Equity Research, Fusion IQ
Noah
Rosenblatt
, Founder, UrbanDigs.com/Licensed RE Salesperson,
Citi-Habitats
Professor
Nouriel Roubini
, Co-Founder & Chairman of RGE Monitor; Professor
of Economics, New York University’s Stern School of Business

Moderator: Andrew
Ross Sorkin
, Assistant Editor, Business & Finance, Chief Mergers
and Acquisitions Reporter, The New York
Times

Real_estate_connect_speakers

Should be fun — swing by if you can — New York Marriott Marquis Times Square (1535 Broadway)

Category: Real Estate

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

22 Responses to “Real Estate Connect NYC 2008”

  1. D H says:

    PLEASE cite the post you made today about Jim Stack’s research. Then have an intern video the bulls while you post it for all to see. That would be priceless!!

  2. michael schumacher says:

    that roubini picture:

    “bend the spoon…….bend the spoon”

    Ciao
    MS

  3. Fusion IQ ?? Did you get a new job?

  4. zero529 says:

    Maybe it’s just because you’re between Pamela Liebman and Dottie Herman, but I think you need a better picture.

  5. joe nordman says:

    How to find the specifics presented today
    (Jan. 8, 2008) on CNBC prior to 12 Noon EST
    concening the relationship between consumer spending, business spending and the economy?
    What was the specific data and the data sources graphically presented?

  6. Ross says:

    I do so hope the panel addresses the need and merits of National House Care.

    The ‘crisis’ will abate when the cover of Time reports the death of real estate.

    Have a good time!

  7. MOB says:

    For those of us not blessed enough to in NYC, will this be available over the interwebs?

  8. michael schumacher says:

    anyone else catch the irony of the fellow from the R.E.B. of New York….

    Spinola?!! Someone please go if only to hear them introduce this guy. And I’m not prejudging this at all..he very well may have some realistic views on the situation..

    But that name…..HAHAHHAHAHAAHH

    Ciao
    MS

  9. Stuart says:

    The state coffers cannot afford a real estate downturn anywhere near what is predicted. The impact of the fall in real estate values on the state and federal budgets should be a topic that is openly discussed in this debate. The implications, per below are dire.

    [In a letter included in the 2007 Financial Report of the United States Government, David M. Walker, the U.S. comptroller general, once again refused to certify or render an opinion on the consolidated financial statements contained in the report, noting “the federal government’s inability to demonstrate the reliability of significant portions of the U.S. government’s accompanying accrual basis consolidated financial statements for fiscal years 2007 and 2006.”

    In his letter, Walker also noted the first wave of the baby boom generation has begun to leave the work force and file for retirement benefits.

    Walker observed the budget and economic implications “will only intensify as the baby boomers age,” resulting in the dire consequence “that our nation is on an imprudent and unsustainable long-term fiscal path that is getting worse with the passage of time.”

    “That’s an understatement,” Williams said. “What the comptroller of the United States is telling us is that as bad as a $4 trillion federal budget deficit and a $54.3 trillion GAAP negative net worth is, the situation with the federal budget deficit is only going to get worse as the baby boomers retire and demand retirement services, including Social Security and Medicare payments.”]

    http://worldnetdaily.com/news/article.asp?ARTICLE_ID=59577

  10. Lew Dunbar says:

    How come David Lereah and Casey Serin aren’t part of the panel ?

  11. michael schumacher says:

    Stuart-

    That is the main (mostly) premise of many of Kiyosaki’s books. The “rich dad, poor dad” series that basically takes several books to say exactly what you have posted above.

    It’s a safer bet that what has been described above will actually take hold of our market in the next 2-5 years…..just as it recovers from the current “issues”.

    Ciao
    MS

  12. michael schumacher says:

    Here’s the latest on “tangelo” via Dealbreaker

    On Monday, February 17, 2004, the National Mortgage News informed its readers that Angelo Mozilo wanted to eliminate downpayments on mortgages. Actually contributing equity to purchase a home is “nonsense,” Mozilo tells the News. He decries credit score requirements as too high.
    “The only way we can have a better society,” Mozillo says, “is to make sure those who don’t have a house have the opportunity to get one.”

    I bet halting the stock allowed some of your “friends” some opportunity to dump shares into an unknown announcement.

    How he still has a job is astounding.

  13. jult52 says:

    They must have photoshopped out the tinfoil hat on Roubini’s head.

  14. Eric Davis says:

    1399.66 on the S&P :)

  15. michael schumacher says:

    ED-

    Almost as if “they” were waiting for that…..

    bought it off that pretty hard IMO….what do ya think they do with the November low?? they need to get it back there in a hurry…..LOL

    Ciao
    MS

  16. Michael C. says:

    I would like to know what all the banks are going to do with all the REO’s.

    Are we ever going to know? There are still REO’s that are vacant and not on the market, and there are still banks that are not accepting short sale offers.

    Will it take a major lender (ie. CFC) going out of business to finally say, “let’s get these homes off our books once and for all and price these homes so that they sell within 60 days because we are a bank/lender not a freakin’ REIT.”

  17. michael schumacher says:

    Here’s the scenario for tomorrow:

    market double bottoms the August lows and “they” take over and push it right back up here 12,600…….

    or we get yet another dose of “goldilocks” from (insert any gov’t sponsored agency or cabinet member’s name here).

    It might not even hold 12,600 today….we shall see.

    Ciao
    MS

  18. Eric Davis says:

    MS, I’m having a hard time even thinking about clearing anything but intraday shorts….

    I think we get lower, then bounce back to this level….
    We saw some Beautiful pain yesterday and we are almost there today. Finally we convincingly broke support.

    Every time you hit support and bounce, everyone calls Double bottom… It’s like all the double top calls that you just hear over and over.

    FWLT is down huge.

    I don’t want to curse it, but the swing trade I’m in is up 16%

    we don’t even pay attention to write downs any more…. Oh! what is another billion among the money center banks. Wake me when it’s huge.

  19. michael schumacher says:

    Wow

    Ciao
    MS

  20. michael schumacher says:

    I’ve taken some profit only because I KNOW that this will be rescued in some form so I’d rather bank some profit then just add to the position.

    BTW I hope some of you got the earlier message about SBUX…..LOL

    Ciao

  21. Eric Davis says:

    You know the credit markets are fine. KBH said that anyone with a job and 2-5% down can get financing. the libor spread is fine. There is no reason for an emergency cut….
    Now next meeting I wouldn’t put a .50 or even a full point past them….
    I wonder what the affect of us being the new Carry trade would be.more dollar selling?

    I swear that “The Powers That Be” are doing everything they can to let the banks hang by the rope of their own creation.

    I like your idea 12500 then maybe a bounce over a couple days back to 12800.
    I was thinking maybe a 1370 S&P then a little rebound.

    Also, I think the shorts are getting to be such strong holders, that it’s getting hard to get a short covering rally going.

  22. mal says:

    Have you read this article

    http://brookesnews.com/080701housingboom.html

    “US housing market and recession: Robert Shiller gets it wrong”