Recent Videos
Nouriel Roubini on Barrons Online
Roubini says we are only in the second inning of a 9 inning game, using a baseball metaphor. And since foreigners are not going to be buying lots of treasuries, a period of higher taxes and US decline is ahead.
An Interview with Robert J. Shiller Part 1 and Part 2
Robert Shiller talks about his most recent book and his views on the US economy at the moment. From Princeton University Press.
Slowdown in real estate across Canada
Ozzie says prices can't be supported by offshore buyers, but only calls for a 17% drop over 3 years. A bit optimistic...
Redfin, a clever idea, a terrible business and a slow death
Ian Watt says "There's no way a computer is going to beat me and my services."
I admire Ian for standing up and taking on a big start-up like Redfin, but while Redfin may not beat Ian and his "services" that don't "compete on price", isn 't it possible that this service, or one like Zillow, could compete and drive other realtors out of the business? And while Ian may continue, if an alternative business model starts to compete as a sales platform, isn't it possible that some realtors may be out of business sooner than later with the Redfins, Zillows and Googles of the world encroachingand shaving the margins in the housing market?
Considering the staggering commissions involved, isn't it plain common sense that a business model that can produce sales just as fast or conveniently could put some realtors to the ultimate test?
Time will tell....
The Media and the Edmonton real estate market
A good summary of the state of the Edmonton Alberta real estate market from Sara MacLennan of the Edmonton Real Estate blog. Thanks for the update.
Housing Market in Canada
"If they haven't sold in the last 30-40 days, they need to sit down with their realtor and figure out why, and it's probably the price." - Dave Watt, Real Estate Board of Greater Vancouver
Fannie, Freddie Rescue Pushes Housing Aid
The biggest mortgage backers in the US are in trouble. No this isn't the bottom in housing yet!
Roubini: Credit losses from the crisis up to $1.6 Trillion
A few months ago, estimates of losses in financial markets related to the subprime credit crunch were around a trillion dollars. And a few months before that, the estimates were around 400 billion.
Now Nouriel is talking about 1.6 trillion dollars of financial losses.
In case anyone thought a bunch of positive signals plucked from government and industry reports equals a shallow recession, Nouriel practically says, "Not so fast...." There are a lot of headwinds for the economy to struggle against.
CNN Money: Tsunami Coming For Housing Crisis
Think the bottom is near in the US Housing crisis? Here are some very convincing discussions of all the obstacles and pitfalls getting in the way of a speedy recovery. There is also some interesting discussion of the plight of exurbs in a time of skyrocketing gas prices. Redevelopment is going to start in the urban centres while the suburbs are vulnerable. And what's going to happen to deal with the large supply of abandoned foreclosed houses?
On the bright side, the swiftness of the decline in prices, along with the size of the decline in places like California, is getting the market closer to a bottom.
Because of this, for young people, housing is heading back toward affordability levels not seen in a long time.
Foreclosures and Mortgages on Global TV
This video shows that the foreclosure market is increasing in Vancouver, as maxed out homeowners can't unload their houses quickly for top dollar any more. A discussion of the situation with potentially rising mortgage rates follows.
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