Credit Writedowns » property

On building debt

Michael Pettis — Tue, 24 Jan 2012 14:00:00 +0000

I am glad to say that the overinvestment thesis is much more widely acknowledged today than it was even two or three years ago, but one myth, I think, is that most of the overinvestment excesses in China are concentrated in the real estate sector. I have always argued that it is infrastructure where the most amount of investment has been wasted

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
On building debt originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts No related posts.

Bubble Trouble in the U.S. Heartland?

Global Macro Monitor — Fri, 16 Dec 2011 18:00:51 +0000

The “smart money” has been buying up farmland hand over fist for the past few years and you can see how they helped drive up land prices in the U.S. heartland. Some think this is the place to be if the shit really hits the fan. Not gold, but productive assets that you can eat. Nevertheless, with ag commodities starting to rollover, farmland prices have probably seen their best days.

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Bubble Trouble in the U.S. Heartland? originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Bubble Trouble In Finland? 3 Oct 2010
Rio Tinto: all kinds of trouble 18 Dec 2008
Chinese Banks: Aggressive tightening could spell trouble for non-performing loans 24 May 2010

Jim Chanos on China, Hong Kong and Australia

Edward Harrison — Thu, 24 Nov 2011 00:49:27 +0000

Famous shortseller Jim Chanos was in Hong Kong and Australia and reported back on what he saw to Bloomberg Television. Copy provided below including a link to the video

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Jim Chanos on China, Hong Kong and Australia originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

The debt-financed investments of Chinese state-owned enterprises

Michael Pettis — Thu, 07 Jul 2011 16:00:51 +0000

A lot of Chinese SOEs are involved in a very wide variety of business activities, and are especially fond of activities in which cheap capital is the comparative advantage, or in which there is political advantage to be gained. That makes real estate development and “high tech” two of the most popular ancillary businesses. And of course if it is true that SOEs are investing unnecessarily for reasons that have nothing to do with value creation, one consequence is likely to be an increase in debt, as SOEs borrow and invest

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
The debt-financed investments of Chinese state-owned enterprises originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

State and Local Government: What a Drag 21 Jun 2010
State and local governments: budget cuts likely 18 Mar 2008
How big is Chinese GDP? 29 Jan 2011

Video: Australia on China’s property market and ghost cities

Edward Harrison — Mon, 11 Apr 2011 14:19:08 +0000

You have seen a few of these videos on ghost malls and ghost cities in China. This one from an Australian broadcast is quite good. It reinforces what I have been saying about the magnitude of non-performing loans and how this constrains Chinese economic policy. Very sobering

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Video: Australia on China’s property market and ghost cities originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Dongguan Ghost Mall And China’s Property Boom 15 Jan 2011
Spanish property market implosion 19 May 2008
UK commercial property market falling as well 25 May 2008

Three eminent domain cases show corporatism in action

Edward Harrison — Thu, 17 Mar 2011 21:00:00 +0000

So the dialling for dollars campaign is under way in U.S. municipalities. I'm talking about the use of eminent domain laws to dispossess property owners of property in order to make way for luxury facilities. This is an ongoing process I expect to get worse as cash-strapped municipalities figure out how to close budget gaps. There are three recent cases that I want to highlight. But first, here's some history

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Three eminent domain cases show corporatism in action originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

New York to use eminent domain to build a basketball stadium 25 Nov 2009
A reminder about eminent domain and government power 10 Dec 2009
Corporatism masquerading as Liberty 10 Feb 2011

Dongguan Ghost Mall And China’s Property Boom

Edward Harrison — Sat, 15 Jan 2011 13:00:28 +0000

This is what the biggest mall in the world looks like on a typical Saturday, very reminiscent of this Hugh Hendry video of China’s empty skyscrapers and this video of China’s empty city. Related Posts Construction in China’s Ghost Towns 27 Jan 2010 Huge property bubble in China 15 Oct 2009 Canada: Boom in progress

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Dongguan Ghost Mall And China’s Property Boom originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Construction in China’s Ghost Towns 27 Jan 2010
Huge property bubble in China 15 Oct 2009
Canada: Boom in progress 6 Jun 2008

The Deficit Commission and America’s Neo-feudal Economy

Michael Hudson — Mon, 06 Dec 2010 13:30:00 +0000

Commercial real estate has been regressively “freed” from debt – leaving the rental value to be pledged to banks as interest. This un-taxing of land rent has been a major factor inflating the real estate bubble on credit, much as deregulating monopolies has helped inflate their stocks and bonds on credit. This is the policy that the Bowles-Simpson Deficit-Reduction Commission endorses. Its regressive tax proposals would shrink the economy, pushing it further into debt. This transfer of revenue from labor and business to property owners – and from them to their bankers and bondholders – threatens to force up the government’s fiscal deficit (as states and municipalities are seeing today) and turn the United States into a Third World type neofeudal economy

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
The Deficit Commission and America’s Neo-feudal Economy originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Another Lesson In How Not To Go About Things From The EU Commission 29 Nov 2010
Deficit Hawk Hypocrisy 26 May 2010
The cardio diet to deficit reduction – a modern fable 6 Jun 2010

What Goes Up…

Edward Hugh — Sun, 31 Oct 2010 23:30:45 +0000

by Edward Hugh Spain’s troubled banking sector is back in the news again. Despite the apparently successful stress tests carried out over the summer problems persist, and don’t seem likely to go away soon. Foremost among these is the steady rise in problem loans which have now risen to an all-time high, potentially endangering the

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
What Goes Up… originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts No related posts.

Delay and Pray, and Then?

Casey Research — Fri, 27 Aug 2010 03:00:00 +0000

By Jake Weber While it may be hard to believe, the housing market hasn’t been the worst-performing real estate sector in terms of price. The index for the Case-Shiller Composite-20 index for residential real estate peaked in July 2006, and as of May 2010, the index had dropped by 29.1%. Considering how dismal the recent

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Delay and Pray, and Then? originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts No related posts.

Annaly: Soft Economic Data Has Meant Increased Risk Aversion

Annaly Salvos — Sat, 10 Jul 2010 23:21:15 +0000

The July 2010 Monthly Commentary By Annaly Capital Management The Economy The S&P 500 finished June down 5.4%, while Treasuries enjoyed a significant rally. The yield on the 10-year shed more than 30 basis points and ended the month below 3% for the first time since April of 2009. This could be representative of a

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Annaly: Soft Economic Data Has Meant Increased Risk Aversion originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Bullish Economic Data And Other Links 8 Jul 2010
UK economic data show worst contraction on record 24 Jul 2009
Loss aversion and finding a bottom 8 Aug 2008

The Financial Crisis Is Not Over

Annaly Salvos — Thu, 10 Jun 2010 08:00:00 +0000

The June Monthly Commentary By Annaly Capital Management. The Economy: The financial crisis is not over The Residential Mortgage Market: The tale of "fails" in the mortgage market The Commercial Mortgage Market: Comparing spreads for commercial real estate loans vs. securities The Corporate Credit Market: The return of credit risk The Markets: Sell in May

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
The Financial Crisis Is Not Over originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts No related posts.

Chinese Banks: Aggressive tightening could spell trouble for non-performing loans

Edward Harrison — Mon, 24 May 2010 10:09:07 +0000

As the Chinese government looks to slow the economy, non-performing loans in the banking sector will come into view. Clearly, the Chinese authorities want to slow the pace of house price and consumer price inflation and reduce rampant speculation in shares and property. However, getting too aggressive could create a lot of non-performing loans when

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Chinese Banks: Aggressive tightening could spell trouble for non-performing loans originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Federal Reserve’s Fisher says tightening will be aggressive 29 Sep 2009
Banks tightening the screws on consumers 15 Apr 2008
Home Equity Loans: Banks overzealous on cuts 28 Aug 2008

China: Time to Admit To, Then Douse, Our Inflation Fire

Edward Harrison — Thu, 20 May 2010 06:53:42 +0000

I don’t buy into the core inflation number that the press or Federal Reserve use. Today’s Wall Street Journal has an article on the front page entitled "Inflation at 44-Year Low." When you read further, you realize they are using the bogus core inflation number that strips out food and energy costs to get a

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
China: Time to Admit To, Then Douse, Our Inflation Fire originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

UK inflation exceeds Bank interest rate for first time since 1981 12 Aug 2008
Labour shortage could spell inflation and trade deficits for China 26 Apr 2010
Andy Xie: Central bank “arsonists have been asked to put out the fire” 28 Oct 2009

Andy Xie: I’ll Tell You When Chinese Bubble Is About to Burst

Edward Harrison — Sun, 25 Apr 2010 23:52:23 +0000

“My maid just asked for leave,” a friend in Beijing told me recently. “She’s rushing home to buy property. I suggested she borrow 70 percent, so she could cap the loss.” It wasn’t the first time I had heard such a story in China. Some friends in Shanghai have told me similar ones. It seems

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Andy Xie: I’ll Tell You When Chinese Bubble Is About to Burst originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Andy Xie: Chinese monetary policy has to be tightened 4 Feb 2010
More from Chanos on the Chinese property bubble 9 Feb 2010
The Chinese bubble economy 11 Jan 2010

Case-Shiller: Two housing markets up from last month, nine up year-on-year

Edward Harrison — Tue, 30 Mar 2010 16:29:26 +0000

The Case-Shiller Home Price Indices released this morning were a mixed bag. The data for January 2010 showed a decline of 0.7% from a year earlier. On a month-to-month basis prices fell 0.4%. Yet nine of the 20 markets in the Composite-20 now have year-on-year price increases. Nevertheless, only two of the twenty markets in

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Case-Shiller: Two housing markets up from last month, nine up year-on-year originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Case-Shiller: housing double dip threat as only 4 of 20 markets rise 23 Feb 2010
Case Shiller: Only five housing markets in twenty show price increase 26 Jan 2010
Case-Shiller: House prices up for second month 25 Aug 2009

Ten ways to spot a bubble in China

Edward Harrison — Tue, 23 Mar 2010 23:06:07 +0000

Edward Chancellor, author of the seminal book on financial speculation and manias “Devil Take The Hindmost,” is now turning his eyes to China. He sees a number of red flags which point to excess in China. Chancellor writes: In the aftermath of the credit crunch, the outlook for most developed economies appears pretty bleak. Households

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Ten ways to spot a bubble in China originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Huge property bubble in China 15 Oct 2009
China is now on the same bubble path as Japan post-1987 crash 3 Nov 2009
Is China in a bubble blow-off top like Japan post-Plaza accord? 15 Mar 2010

Links: 2010-02-28 – CRE meltdown in DC, emigration from Ireland and more

Edward Harrison — Sun, 28 Feb 2010 17:57:31 +0000

The last feature on the list of links below is on CRE in Washington D.C. where the economy is fairly robust. If you know anything about these properties, you would agree these are not poor properties at all. The problem with them is not location or property maintenance; it’s the debt. The properties were leveraged

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Links: 2010-02-28 – CRE meltdown in DC, emigration from Ireland and more originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Links: 2009-01-16 – Banks, Ireland, and Africa 16 Jan 2009
Links: 2010-01-16 16 Jan 2010
Links: 2010-01-29 29 Jan 2010

Existing home sales plunge amid evidence most houses sold in distress

Edward Harrison — Fri, 26 Feb 2010 17:36:45 +0000

The National Association of Realtors® announced today that existing home sales dropped a hefty 7% in January, adding further evidence that the resurgence of the housing sector is stalling. Wednesday, we saw a very soft new home sales number. Now, we see more softness in existing home sales as well. Their press release stated: Existing-home

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Existing home sales plunge amid evidence most houses sold in distress originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Existing home sales add to the parade of bullish data 21 Aug 2009
Case-Shiller shows home price plunge 28 May 2008
New home sales hit a record low 24 Feb 2010

New home sales hit a record low

Edward Harrison — Wed, 24 Feb 2010 16:09:47 +0000

This comes today via Reuters: The Commerce Department said sales dropped 11.2 percent to a 309,000 unit annual rate, the lowest level since records started in January 1963, from an upwardly revised 348,000 in December. It was the third straight month that new home sales fell and the percentage decline in January was the largest

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
New home sales hit a record low originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

New home sales and durable goods: economic reports 25 Jun 2008
UK housing prices down a record 29 May 2008
Expect bankruptcy in the record Stuyvesant Town real estate deal 25 Oct 2009

Case-Shiller: housing double dip threat as only 4 of 20 markets rise

Edward Harrison — Tue, 23 Feb 2010 17:22:53 +0000

The December 2009 data for the widely followed S&P/Case-Shiller Indices were released this morning. The data are showing a mixed picture. On the one hand, the unadjusted numbers are down on both a month-to-month and year-over-year basis (Composite-10 and Composite-20 respectively down 2.5% and 3.2% versus December 2008). Only four of twenty markets saw price

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Case-Shiller: housing double dip threat as only 4 of 20 markets rise originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Case Shiller: Only five housing markets in twenty show price increase 26 Jan 2010
Case-Shiller index: Across the board declines in U.S. housing 30 Dec 2008
Case Shiller points to a grim U.S. housing market 24 Feb 2009

Andy Xie: Chinese monetary policy has to be tightened

Edward Harrison — Thu, 04 Feb 2010 22:57:48 +0000

Xie believes the Chinese economy is in no near-term threat. But he does see problems down the line because of a property bubble. He recommends even more monetary tightening to reduce the ill effects of this bubble. Xie comments on the U.S. and on Europe as well. The video of his comments runs just under

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Andy Xie: Chinese monetary policy has to be tightened originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Marc Faber: “Monetary policy in the United States will stay expansionary” 4 Oct 2009
Andy Xie: Central bank “arsonists have been asked to put out the fire” 28 Oct 2009
Andy Xie on China, money and asset bubbles 8 Dec 2009

UK house prices now 9.9% above trough

Edward Harrison — Thu, 04 Feb 2010 22:05:28 +0000

According to data released today by the Halifax, UK house prices are now up almost 10% above the levels of just 9 months ago. Low interest rates have certainly been a big factor in the rise, with Nationwide’s figure showing an even steeper rise since April, as the chart from BBC News below attests.

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
UK house prices now 9.9% above trough originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

UK house prices are falling 26 May 2008
UK house prices need to fall up to 63% 14 Jun 2008
UK House Prices down in June 1 Jul 2008

Jim Chanos still bearish on China, talks malinvestment

Edward Harrison — Wed, 03 Feb 2010 14:00:00 +0000

Below is a Jim Chanos video on China now making the rounds in the financial blogosphere. Chanos says that most financial bubbles are the result of excess credit creation and believes that is exactly what we are witnessing in China. Although Chanos sees serious overcapacity problems in China, he is not calling for a market

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Jim Chanos still bearish on China, talks malinvestment originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Chanos: “We’re not calling for an impending crash of China” 25 Jan 2010
China’s present growth story is built on malinvestment 29 Jun 2009
Marc Faber: “it’s very tough for a forecaster who was ultra-bearish to stay bearish” 27 May 2009

On depreciation, malinvestment and GDP as a gross number

Edward Harrison — Tue, 02 Feb 2010 21:54:18 +0000

If I could relate the concept of malinvestment to business administration I would do it using the concept of depreciation. Depreciation is a term used in accounting and business to represent a writedown of a real asset on a company’s balance sheet to reflect its actual depreciation in value. If you build a building, it

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
On depreciation, malinvestment and GDP as a gross number originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

China’s present growth story is built on malinvestment 29 Jun 2009
Bill Gross: the new normal means investors should shun risk 1 Jul 2009
Bill Gross: Government intervention in markets will last 4 May 2009

Construction in China’s Ghost Towns

Edward Harrison — Wed, 27 Jan 2010 17:50:20 +0000

A reader who invests in emerging markets sent me an interesting article from the South China Morning Post. Excerpts are below. China’s economic stimulus programme has accelerated the already aggressive pace of urban development in the country. But while investment in construction is creating much-needed infrastructure in some cities, it is also adding to the

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Construction in China’s Ghost Towns originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Regionals have CRE and Construction exposure 29 May 2008

Case Shiller: Only five housing markets in twenty show price increase

Edward Harrison — Tue, 26 Jan 2010 23:57:57 +0000

When I wrote about house prices six months ago, I said: house prices are bottoming because we have seen a trend in year-on-year changes from January through May that looks likely to continue into the present day. If this trend (of less negative data) holds for a few more months, say through September or October’s

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Case Shiller: Only five housing markets in twenty show price increase originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Case-Shiller: Price increases in 14 of 20 markets 28 Jul 2009
Case-Shiller shows home price plunge 28 May 2008
Case-Shiller Home Price Index for April 2008 out 24 Jun 2008

Chanos: “We’re not calling for an impending crash of China”

Edward Harrison — Mon, 25 Jan 2010 19:49:57 +0000

Jim Chanos was on CNBC talking about, amongst other things, China. And while he is bearish on China, the quote that jumped out at me was the one in the title. He is bearish on China because of an unprecedented credit-induced bubble in Chinese real estate. He quotes 30 billion sq. ft. of construction underway

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Chanos: “We’re not calling for an impending crash of China” originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

China is now on the same bubble path as Japan post-1987 crash 3 Nov 2009
Jim Chanos: short sellers are heroes 25 Sep 2008
Jim Chanos: “It’s a bear market rally” 16 Dec 2008

Stuyvesant Town: Owners walk away as top of the market deal collapses

Edward Harrison — Mon, 25 Jan 2010 16:22:01 +0000

Exactly three months ago, I told you to expect bankruptcy in the record Stuyvesant Town real estate deal. Today, this is exactly what we got: A group led by Tishman Speyer Properties has decided to give up the sprawling Peter Cooper Village and Stuyvesant Town apartment complex in Manhattan to its creditors in the collapse

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Stuyvesant Town: Owners walk away as top of the market deal collapses originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Expect bankruptcy in the record Stuyvesant Town real estate deal 25 Oct 2009
Banks can do ‘You Walk Away’ too 30 Mar 2009
Denmark: Fionia Bank collapses 23 Feb 2009

Short sale fraud

Edward Harrison — Wed, 20 Jan 2010 22:28:25 +0000

CNBC’s Diana Olick has the breaking story on alleged fraud in the mortgage industry. She has been writing about this for a few days now. See Big Banks Accused of Short Sale Fraud – Realty Check with Diana Olick at CNBC’s website. Basically, second liens on properties like home equity loans have a blocking interest

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Short sale fraud originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Lehman Brothers to post $3 bln loss; sets $6 bln stock sale 9 Jun 2008
Cruising foreclosures, REO and short sales with Jim the Realtor 21 Jul 2009
Is the short covering rally over? 24 Jul 2008

Case-Shiller ekes out gain despite decline in 12 of 20 markets

Edward Harrison — Wed, 30 Dec 2009 20:51:50 +0000

The S&P/Case-Shiller October 2009 house price index came out yesterday. The data showed plenty of reason to worry about the sustainability of the recent stabilization of house prices. While both the Composite-10 and Composite-20 indices showed miniscule gains, the broader picture is one of weakness. Here are the key highlights. The Composite-10 index was up

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Case-Shiller ekes out gain despite decline in 12 of 20 markets originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Case-Shiller shows a further decline in prices 26 May 2009
Case-Shiller Index: Less bad, but three markets cut in half 30 Jun 2009
Case-Shiller: Price increases in 14 of 20 markets 28 Jul 2009

More evidence of extend and pretend

Edward Harrison — Tue, 22 Dec 2009 16:55:02 +0000

Internet maven and San Diego North County real estate guru “Jim the Realtor” has another post showing us that extend and pretend is alive and well in the wonderful world of housing. This guy received his first NOD in April, 2006, and has been working the system ever since. Yesterday he listed the house on

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
More evidence of extend and pretend originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

The Age of Deleveraging

Edward Harrison — Sat, 19 Dec 2009 15:38:12 +0000

John Mauldin’s latest is about deleveraging and how this secular trend will drive the macro picture in 2010. The question is why? Read and find out. Also see A conversation with Bridgewater Associates’ Ray Dalio for another good commentary on this topic. John Mauldin, Best-Selling author and recognized financial expert, is also editor of the

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
The Age of Deleveraging originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Consumer credit down, but does it show deleveraging? 7 Nov 2009
Data on past consumer deleveraging during recessions 9 Oct 2009

House flipping back in vogue in North County San Diego

Edward Harrison — Tue, 15 Dec 2009 21:19:03 +0000

Good times are here again in residential property. House flippers are back and have now moved to foreclosure auctions. Below is a house that was bought in foreclosure at $945,000 in November and is now on the market for $1.4 to 1.5 million. 4100 square feet and swimming pool. Fairbanks Ranch. Cheapest house in the

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
House flipping back in vogue in North County San Diego originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Short Sales in North County: “Feeding Frenzy” as banks pretend and extend 20 Oct 2009
Ivy Zelman: “Home prices are going back down” 20 Nov 2009
Nationwide brings back 125% LTV mortgages 9 Jul 2009

Is the Canadian housing market a bubble?

Edward Harrison — Tue, 15 Dec 2009 03:51:38 +0000

If you asked me this question last year, I would have said yes but not it’s not as bad as Ireland or the U.S. However, the Canadian economy and Canadian banks have weathered the storm brilliantly. So most people think the answer is now no. Nevertheless, house prices are high and rising and this has

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Is the Canadian housing market a bubble? originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Canadian housing hits the wall 28 Jul 2008
Canadian housing crisis warning 24 Sep 2008
Subprime housing bubble timeline 22 May 2008