Let Detroit Go Bankrupt

An Opt-Ed article by Mitt Romney in the NY Times.
http://www.nytimes.com/2008/11/19/opinion/19romney.html

A conversation that the nation should have before any money is put into the auto industry. Change and the pain that comes with pain is normal. Mitt is spot on with his advice. While the final solution might be different from what Mitt is suggesting the full range needs to be considered.

In Europe GM and Ford produce a number of cars that are economical to run and which sell well. Some of that thinking and the ability to lead rather than just follow the short term demand trends is what will be needed. If Toyota, Honda, Nissan and others can produce in the US and stay competitive then the Big Three need to take a serious look in the mirror.

As a real estate investor a major shift in the auto industry will produce opportunities. The rust best is called the rust belt for a reason. The economics of the RE markets there are far different from on the coasts and in the high tech centers. Strategies for RE investors need to adjust to the macro economic environment.

|

Back to work

September marks the back to work season in Europe. Time for me to spruce up the blog and learn how the newest version of RapidWeaver (v 4.1) works. Expects some changes this month and quite a few more posts while I catch up on some past topics I have been meaning to share. Read More...
|

How a Recession Works

How does a recession happen and why? Read More...
|

Does this sound like what RE investors do?

Other People's Money - OPM. The key to success for real estate investors. Also the source of some of the problems in the worldwide finance sector. Read More...
|

Fail to pay your mortgage in CA? Jail awaits you

Despite objections from consumer advocates, in the last two weeks California judge Jed Clampbet has sent 142 delinquent homeowners to state prison for up to three years each, for failing to honor their home mortgage obligations. Read More...
|

Fed Economist Questions Home Equity-Spending Link

Federal Reserve Bank of New York economist Charles Steindel questioned the magnitude of declining housing equity’s effect on consumer spending. Read More...
|

The Federal Housing Finance Regulatory Reform Act of 2008

Efforts to help stem the foreclosure crisis while to reforming regulations specific to Fannie Mae, Freddie Mac and the Federal Home Loan Bank system Read More...
|

What does it mean? DOJ and National Association of Realtors settle lawsuit

On May 27, 2008, NAR and the U.S. Department of Justice reached a favorable settlement, concluding a two-year DOJ investigation concerning the MLS. Read More...
|

No crash in the US according to Goldman Sachs

Goldman Sachs publishes a study that shows the US has not had a property crash so far. Read More...
|

3G iPhone in June?

Is it time for the next generation iPhone? 3G support and more countries. Anything else? Steve rarely lets the full story out before an announcement. Read More...
|