A: Almost all other markets outside NYC are experiencing fierce seller competition where battles take place to be the most aggressively priced property on the open market. The result is asking prices some 20%-30% below peak levels. Yet in Manhattan, this is not the case. This leaves buyers wonderi ... Read more

A: I want to discuss the uptick rule, being that the ban on short selling expires today. I don't listen to Fast Money as much anymore, but I just happened to have it on last night and overheard a discussion on re-instating the uptick rule as the ban on short selling expires. Assuming the ban does ... Read more

A: Insanity Later? Boy oh boy oh boy. Folks, we have reached the panic stage of this massive credit deflation cycle. Back in February I devoted an entire discussion noting that stocks are lagging the credit markets , and still, there are people out there that are only now waking up to this reali ... Read more

I thought today started off bad when the subways decided not to run out of Brooklyn anymore, thus making my respective commute 2 1/2 hours long. Alas, I was wrong. I walk into the office and the Dow is down below 10k, Russia's market fell 16% and trading was suspended, Oil is close to $90, and the ... Read more

A: Tally up the debts! Lets just all pray that the committee appointed to buy these toxic securities, is prudent in the price willing to pay for them. Although that goes against the overall goal, to try and recapitalize the banks & spark private sector interest back to the secondary mortgage m ... Read more

A: Here we go. In the past 5 trading days, including the huge 777 point drop on Monday and bounce back yesterday, the BIG 3 banks (C, JPM, & BAC) stocks are up 20%, 18%, and 12% respectively. Hmmm, do you think the markets are pricing in a positive outcome for tonight's amended plan vote? I th ... Read more

With the real estate market crumbling apart and credit markets grinding to a halt, I'm beginning to suspect that Private Mortgage Insurance is going to be the next sector of home finance to get a dose of their own medicine. CnnMoney writes that PMI applications for August '08 were down 32% year ... Read more

Rates are stable from Friday's close, currently at around 6.25% on 30 Year Fixed Conforming mortgages and a whopping 7.875% on JUMBO 5/1 ARM's. While the DOW is down close to 450 points due to the rejection of the much anticipated rescue plan, the treasuries are rallying and their respective yie ... Read more

A: Umm, sure, ok, whatever you say! Citigroup is the winner of the Wachovia buyout talks and agrees to take on as much as $42,000,000,000 of losses from Wachovia's $300+ Bln portfolio of toxic mortgages. After that, the FDIC will take on losses in exchange for preferred stock and warrants. This ac ... Read more

A: Don't forget, especially given the current credit crisis and how that may affect Manhattan real estate! It couldn't be a more important time to get a group like this together to talk about the conditions we face! Please register via the link below for a state-of-the-market panel discussion on t ... Read more