Or “so long, it’s been good to know you”. A couple of real estate firms in town have been pushing their “international connections”, hinting (or promising) that they had a steady flow of European and other foreign buyers eager and willing to buy Greenwich properties. I was always dubious about those claims because, year after year, the average buyer in town was already in town and just moving up or down the food chain. But customers loved to believe it: “sure, my house may be a little over-priced for a Greenwich buyer, but what’s that to someone paying in Euros or pounds? One of them will come by and pull my fat from the fire – just wait.” Well, they waited and they lost. I don’t have any statistics yet but it seems to me that, with European banks in a free fall, Russia’s stock exchange shut down and the Middle East suffering from a huge decline in oil prices and the usual corruption that the merry-go-round may soon stop if it hasn’t stopped already. Who will these firms promote as the next batch of unsophisticated buyers willing to pay more than a house is worth?
Daily Archives: October 5, 2008
Ramussen: Poll of voters on what to do with the House and Senate
59% of American voters would throw the bums out and start anew.
So what’s the matter with the other 41% ?
“Cold Cash Jefferson”finishes first in Louisiana primary. Well why not; doesn’t New Orleans deserve the very best? Worked for Washington, D.C. and Marion Barry.
Banks are considering refusing to participate in the bailout and continuing instead to try to muddle through. I’d be hugely impressed by their dedication to the principles of free enterprise were it not for this:
But Wall Street analysts, believe the addition of so many terms to the bill might deter potential participants.
One of the least attractive elements is a section designed to curb executive pay at banks that participate in the bail-out package. These include limiting stock-related pay and banning ‘golden parachutes’ for executives.
‘I think this hodge-podge of regulations and rules will be enough to put many [chief executives] off participating,’ Caldwell said.