Property Grunt

Sunday, July 03, 2011

The Bunny

The rich are getting nervous. And this isn't just chatter.

A short sale in Scarsdale.

You will see more of these. Bank on it.

Jared Kushner is not alone.
All the big time players who were gobbling up properties like the way Lindsay Lohan chugs Red Bulls are now desperately trying to get rid of them or getting to know their lenders as they renegotiate the terms of their mortgages.

Real estate was such a nice fluffy bunny. Now it bares its fangs.