Property Grunt

Sunday, July 13, 2008

Real estate chatter

Regarding the whole Indymac situation, I heard some chatter reagarding from a source close to what went down. Apparently this was in the works for awhile and that not surprisingly the delays that were caused by internal politics. Before Indymac was shutdown it was losing 3 billion dollars a day.

One more thing. Apparently customers have this weekend to get their money out. Those who missed out on that window, well I think it is going to be a unpleasant week.

Monday is going to be a very interesting day.

Remember my blind item about a certain landmarked building getting bought by foreign investors? It was the Chrysler Building. I know these things.