This article outlines some of the possibilities for Sears.  I don’t disagree with their scenarios but they don’t add much in terms of the value of the various assets.  I think many people are drastically understating the actual value of the real estate and long term leases.  Also if housing does come back and appliance...Read More

My concern for the Chinese real estate market is growing greater as builders continue to increase supply despite falling prices and demand.  This is the worst case scenario for prices and the positive impact for Chinese GDP growth due to continued construction is nothing more than a sugar high, which will dissipate as demand wanes....Read More

More positive data pertaining to the residential real estate market.  I’m much more interested in the progress being made in the existing home market than I am in the new home market, as it is in the existing home market where the supply/demand balance has been most out of whack. http://www.bloomberg.com/news/2012-03-26/pending-sales-of-u-s-existing-homes-hold-near-two-year-high.html INVESTING IN THE FINANCIAL...Read More

The consensus has been that China was likely to endure a soft landing.  I think this is extremely optimistic thinking when you look at their unbelievable growth and expansion over the last decade, particularly in the housing market.  Their real estate bubble is very different than that that was endured in the U.S. because many...Read More

The US Treasury announced that they have liquidated the $225 Billion of mortgage debt acquired during the financial crisis for a profit of $25 Billion.  Much of this debt was termed “toxic” and was the source of tremendous trepidation during the worst of the crisis.  It is important to keep in mind that price is...Read More