Property Grunt

Tuesday, August 25, 2009

Now don't this beat all.

You don't need to read Barry Ritzholtz to know that the rebound in the housing market is not a true rebound at all.

I got this ad in email.

The business transactions of hotels normally go through commercial brokers, even if a hotel is going into foreclosure. I have never seen it go to public auction.

Commercial brokers usually have a network of buyer and sellers in order to make a sale happen. But if they are going to these lengths to a sell a property of this magnitude, it just goes to show that no one has any money to even think of having a meeting of the minds.