Daily Archives: March 18, 2009
Tucson real estate is holding up better than Greenwich’s
They’re only down to 2004 prices. The advice is the same, though: The rise, 2001 – 2006, was +87% for both Average and Median prices. The fall, 2006 – 2009, is -25% Average/-22% for Median prices. And not only are prices … Continue reading
Comments Off
Filed under Uncategorized
Okay, now this is finally different from Bush
WSJ: Obama to release Guantanamo terrorists suspects into the U.S. WASHINGTON — Attorney General Eric Holder said some detainees being held at Guantanamo Bay, Cuba, may end up being released in the U.S. as the Obama administration works with foreign … Continue reading
Filed under Uncategorized
Calculated Risk Blog
Reader Krazy Kat sometimes sends me links to articles on this blog, CalculatedRisk.com, and they’re always interesting. Here’s one explaining why there are two bottoms in housing declines: housing starts and new homes and then later, sometimes a couple of … Continue reading
Filed under Uncategorized
Dodd: “That contribution is no longer operative.”
Chris Dodd is returning $103,000 paid him by A.I.G. during his “campaign” for president. Which is interesting – why would anyone give Dodd money to conduct what was an obviously futile run for the presidency? Even if Dodd, egotist that he … Continue reading
Filed under Uncategorized
Useless advice from a single guy
If you’re the 61-year-old head of a big corporation looking for a little affection, don’t marry a 29-year-old Swedish bombshell, even if she does come with a phony “Countess” title. These things just don’t last. The former head of United … Continue reading
Filed under Uncategorized
Dodd: my statement of yesterday is no longer operative
Turns out that the Dodd Amendment, which permits things like AIG bonuses, was drafted by Connecticut’s Senator after all. Yesterday he denied any such thing, saying someone else fiddled with his bill after he released it from his care. But … Continue reading
Filed under Uncategorized
You know all that talk about preventative care saving medical costs?
Quite the opposite in some cases. As reported in the NY Times, PSA prostate cancer testing is worse than worthless, it causes unnecessary risks. Mammography seems to have the same dismal cost/benefit ratio. Both these tests are required to be paid … Continue reading
Filed under Uncategorized
Consumer Confidence
Ever wonder how Bush continued to receive even single digit approval ratings and the war in Iraq kept showing up as a good idea despite all of your impassioned pleas to the contrary? It’s been me – I’m a member … Continue reading
Comments Off
Filed under Uncategorized
Build a house in Old Greenwich
Effective today, Jordan Saper’s offering to build a 6,000 sq.ft. house on a half-acre at 7 St. Claire Avenue (just south of St. Saviors) for $3.8 million. That seems a bit rich to risk in this market, but Saper builds … Continue reading
Filed under Uncategorized
Zimbabwe along the Potomac
Buying bread The Wall Street Journal has a round up of economists’ reactions to today’s Fed decision to buy its own bonds here. Some are positive, some are not. I think I side with those who are frightened. One bright … Continue reading
Filed under Uncategorized
So much for listening to experts
Yesterday I heard an economist on NPR predict that the Fed would not buy long term bonds because it was “a last ditch stand” ; its potential to explode inflation was so huge. “Like firing an unguided missile”, he said. Today … Continue reading
Filed under Uncategorized
Please let me ruin a company. Oh, please, pleeeese?
Remember the days when, to do well you had to do something right? No longer. Fannie Mae, Freddie Mac preparing to award their executives huge bonuses.
Comments Off
Filed under Uncategorized
Economics 101
Give away something for free, people take more of it. Health care costs soar in Massachusetts under free health care program. Just wait for national health care and its cost controls.
Filed under Uncategorized
Market Conditions
We have 638 single family houses for sale right now, of which 70 were built in 2008, 26 in 2007, 17 in 2006 and 13 in 2005. Not all of those 113 houses are spec houses, but it’s reasonable to … Continue reading
Filed under Uncategorized
I’ve heard of church bake sales but this takes the cake!
Vatican defends Pope’s condom stands. What was wrong with modest, chaste lemonade stands? My heavens.
Comments Off
Filed under Uncategorized
Foreclosures and short sales
I attended a packed meeting of realtors and lawyers this morning on the subject of mortgage foreclosures and short sales. A foreclosure, whether by auction of “strict”, where the borrower’s right of redemption is judicially extinguished, ends up with full … Continue reading
Filed under Uncategorized
It didn’t add up
Bernie Madoff’s accountant has been charged with fraud. I almost feel for the poor schnook – he’s 49 years-old and facing 105 years in prison (an unlikely outcome, but still enough to keep one awake at night). His problem: he probably … Continue reading
Filed under Uncategorized
It will happen here
The CPSIA “no-lead” law is putting small toy makers out of business and food safety inspectors are banning the sale of home-made pies at church fairs. Now Congress is working up new food safety rules that will shut down farmers … Continue reading
Filed under Uncategorized
