Inside The Peebles Estate: Real estate mogul and Obama advisor Don Peebles shares his private home collections in Florida.
In any great organization it is far, far safer to be wrong with the majority than to be right alone. —John Kenneth Galbraith
Asian currencies continue to sell off vs the $ on the heels of the news yesterday that South Korea said they will look into hot money inflows stemming from the $ carry trade and the Bank of Indonesia said they are looking into the foreign buying of bills. This follows the news a few weeks ago that Taiwan was limiting foreign deposit holdings and Brazil was taxing foreign inflow transactions. As I mentioned yesterday, we may have reached a short term pain threshold in terms of $ weakness and foreign countries are fighting back as they certainly won't wait for...
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November 11th, 2008 at 6:12 pm
Watching this video of expensive housing gives me the thought that with Freddie and Fannie under gov’t control they don’t have to mark to market and can resume the mark to make believe accounting rules. Put that in combonation with some made up loan program for timing purposes and we are on our way.
Of course people won’t live long enough to pay 40 year loans or pay them off by retirement time but they can just refinance later on when the housing value comes back up to what they overpaid for in the first place.