Real estate

Wolf Richter: “Severe Collapse” of Home Prices Might Trigger a “Financial-Institution Crisis” in Australia: OECD Frets about the Banks

Published by Anonymous (not verified) on Wed, 12/12/2018 - 8:49pm in

Australia looks to be on the verge of a nasty unwind of its housing bubble. A plunge would damage not only its banks but also retirement funds, since banks play an outsized role in the Australian stock market.

Don Quijones: Wall Street Mega-Landlord Blackstone Turns Screw on Spanish Government & Property Market

Blackstone is a major operator in the Spanish property market. This post discusses the Spanish government's plans to enact modest protections for tenants by reforming rent laws. Will the government respond to tenant needs, or give way to the private equity firm’s implicit threat to reduce its Spanish property investments? Alas, it looks likely that the government will fail to deliver on its reform pledge.

When the Middle Class Lost Its Wealth

Published by Anonymous (not verified) on Sat, 17/11/2018 - 1:55am in

Until 2008, rising home values gave the middle class a cushion amid growing income inequality. But following the financial crisis, that wealth has failed to return.

AOC Rental Woes a Reminder of Worsening Conditions for Workers

Published by Anonymous (not verified) on Mon, 12/11/2018 - 7:27pm in

Rising rental costs put a spotlight on how it is even harder than ever for ordinary workers to get by.

Mischaracterizing HAMP and Principal Reduction: A Regression Discontinuity Test Error

Published by Anonymous (not verified) on Fri, 02/11/2018 - 7:07pm in

Explaining a fundamental error in a widely-touted paper on HAMP modifications.

What’s the Problem with Financialization?

Some of the analytical sleights of hand used to promote the ideology of financializatation.

“Fatally Flawed” Paper on HAMP Mortgage Program Gets Program Design Backwards, Botches Regression Analysis, Yielding Propagandistic Findings

Published by Anonymous (not verified) on Wed, 31/10/2018 - 8:11pm in

How a new paper on HAMP manages, by not understanding the program. to whitewash it as well as promote financialization.

Michael Hudson: Rescuing the Banks Instead of the Economy

Michael Hudson on his themes of how banks are mainly funding real estate rather than the economy and the problem of failing to write down debt that can't be repaid.

Michael Olenick: The Real Story of “MAGA Bomber” Cesar Sayoc’s Foreclosure

Published by Anonymous (not verified) on Mon, 29/10/2018 - 9:00pm in

A key piece of stripper-turned-MAGA bomber Cesar Sayoc's slide into financial ruin.

Sydney Faces Crash In Conversations About Housing Prices

Published by Anonymous (not verified) on Wed, 24/10/2018 - 11:46am in


The amount of conversations about housing prices reached a 10-year low at barbecues all around Sydney on the weekend, a sign that the housing conversation boom may be over.

“Spring is usually the peak time for wankers to boast about how good a return they’ve been getting on their investment properties,” reported chief chit chat analyst Steve Prattle from Deloittes. “Even after adjusting for seasonal factors such as talk about the Wentworth by-election and whether the Honey Badger should have picked at least someone, clearances of incredulous blather about the price for a two bedder in Minto was down by 34%.”

The figures have brought some relief for young talkers eager to get into the conversation but without even a horror story about getting beaten at an auction to contribute to the general ebb and flow of blather.

Experts are urging caution about suggestions that housing conversations will fall back down to 1980s levels, where most social interactions revolved around cricket, the latest fashion in flouro shirts with “Choose Life” written on them and Bob Hawke imitations.

“We’ll probably never see a return to the 1985 peak year where 45% of conversation was about which characters would be making a comeback in the next Police Academy movie,” said conversation developer Celia Yakitty. “I think we may see a correction in the water cooler conversation market with more people willing to start a dialogue about what schools to send the kids to and how satisfied they are with their spoodle.”

Peter Green

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