This Week in Comments

February 12, 2010 05:22PM

Third-largest controlled implosion in the U.S. scheduled for Sunday in West Palm Beach
Wait, I thought that already happened to the Florida real estate market as a whole.

Broker allegedly engaged in racial steering at two Bronx co-ops
Steering is necessary — face it. If a broker knows a co-op board won’t approve minorities then shouldn’t he/she steer someone away? What if a broker knows the board won’t approve young families? Then shouldn’t the broker steer them away from the building? I’m a young father — I would expect my broker to steer me away from places [where] I’m not wanted.

Priciest Sag Harbor waterfront summer rentals revealed
Ostentatious for those who need to show off. This is a relic of the stupid years.

A congressional panel suggests that the biggest wave of commercial mortgage pain will first hit in 2011. What is your outlook?
Once those [commercial real estate] loans need refinancing, the defaults will soar — mostly in 2011.

By the numbers: China’s real estate market surges while New York’s struggles
Almost every economic expert agrees that China is the next bubble to pop. The only difference between China and the U.S. bubbles are that when China’s pops, the Chinese banks and individual citizens do have a lot of equity as the Chinese are notorious for keeping large amounts of cash reserves. So while it might wipe out wealth, the risk of having to write off debt is much less when compared to the over-leveraged Americans.