The conservative take on bank nationalization digested by The Consumerist. B of A chief Ken Lewis subpoenaed by state prosecutors, as reported by the Financial Times. And Dr. Housing Bubble us that the median price of a home in Southern California has declined to $250,000, a level last seen in February 2002.
Category Archives: The Market
VIDEO: Miami Real Estate Speculator Loses Shirt
Hey, at least he’s taking responsibility for it. This guy is more in touch with reality than most people. I guess losing $32 million will give you some humility.
Petrodollar Recycling, the Bubble and You: Part II
Yesterday, I commented on how we were getting a demo on how some of the money being spent on oil was coming home and speculating on the real estate market. As insightful as that was, it looks like the downturn in the Dubai real estate market is going to dwarf the rollbacks in US cities.Continue reading “Petrodollar Recycling, the Bubble and You: Part II”
Petrodollar Recycling, the Bubble and You
Is this our first early evidence of how petrodollar recycling turbocharged the tail of the real estate boom?
Limited Parking
I just came across a story in the Guardian with some great photos illustrating an interesting problem caused by the economic slowdown. It seems that the arrival of the slowdown was so abrupt that auto manufacturers didn’t really have time to adequately ramp down production. Now, I know what my ever-so-intelligent readership is thinking: “Duh,Continue reading “Limited Parking”
QuantumTom 