Property Grunt

Friday, April 16, 2010

Rock on!

Because that is all we can do.

I attempted to blog last weekend but the entry I was cobbled together at best, I decided to let it go for now.

Besides the fact that I am determining the next phase of this blog, it is just that I see no change with the current trends in real estate. Everything is f**ked.

I am not panicking. I am beyond panicking. I am pretty much numb at this point. It is like living in a desert.

What's on the ground?


What will be on the ground tomorrow?


Next week?


Next year?

My guess, sand.

I guess what is amusing is how this is transpiring.

For instance, Nicholas Cage has been dealing with a ton of financial troubles and joined the growing throng of the foreclosed.

One of his mansions were put on the chopping block but guess what? No one could afford to bring a meat cleaver.

The same thing happened to this genius. What do you expect from an Orioles fan?

Remember the days of cheap money where all you needed was a pulse to qualify for a loan? Remember when you could gang bang your house with enough refis that could make Paris Hilton blush? Those days are long gone.

Interest Rates Have Nowhere to Go but Up

And whatever the government does to help, it does not seem like it is working.

Defaults Rise in Loan Modification Program

Want to see more? Go here.

Now the SEC is going to toe to toe with Goldman Sachs.

U.S. Accuses Goldman Sachs of Fraud

The most fascinating part of this article?

Mr. Paulson is not being named in the lawsuit.

I am sure this will be resolved by the next boom/bust.