[34f3f3f]

This all comes as no surprise. I remember that lovely product called an endowment mortgage. Any forecasts for banks getting into difficulty, and is Commercial RE having (likely to have) problems of the same scale?

I understand that Northern Rock is using a charity in Jersey (which came as a bit of a surprise to the charity), to funnel the top layer of business into a holding company called Granite, who would reciprocate by providing funds to write more business. It’s said that it the conveyor belt stops, Northern Rock won’t be able to honor it’s bailout loan. Moreover, many Northern Rock customers are rather peeved that all the crap as left onshore, while the best business was moved offshore presumably out of reach.

[34f3f3f]

This all comes as no surprise. I remember that lovely product called an endowment mortgage. Any forecasts for banks getting into difficulty, and is Commercial RE having (likely to have) problems of the same scale?

I understand that Northern Rock is using a charity in Jersey (which came as a bit of a surprise to the charity), to funnel the top layer of business into a holding company called Granite, who would reciprocate by providing funds to write more business. It’s said that it the conveyor belt stops, Northern Rock won’t be able to honor it’s bailout loan. Moreover, many Northern Rock customers are rather peeved that all the crap as left onshore, while the best business was moved offshore presumably out of reach.

[34f3f3f]

This all comes as no surprise. I remember that lovely product called an endowment mortgage. Any forecasts for banks getting into difficulty, and is Commercial RE having (likely to have) problems of the same scale?

I understand that Northern Rock is using a charity in Jersey (which came as a bit of a surprise to the charity), to funnel the top layer of business into a holding company called Granite, who would reciprocate by providing funds to write more business. It’s said that it the conveyor belt stops, Northern Rock won’t be able to honor it’s bailout loan. Moreover, many Northern Rock customers are rather peeved that all the crap as left onshore, while the best business was moved offshore presumably out of reach.

[34f3f3f]

This all comes as no surprise. I remember that lovely product called an endowment mortgage. Any forecasts for banks getting into difficulty, and is Commercial RE having (likely to have) problems of the same scale?

I understand that Northern Rock is using a charity in Jersey (which came as a bit of a surprise to the charity), to funnel the top layer of business into a holding company called Granite, who would reciprocate by providing funds to write more business. It’s said that it the conveyor belt stops, Northern Rock won’t be able to honor it’s bailout loan. Moreover, many Northern Rock customers are rather peeved that all the crap as left onshore, while the best business was moved offshore presumably out of reach.

[34f3f3f]

This all comes as no surprise. I remember that lovely product called an endowment mortgage. Any forecasts for banks getting into difficulty, and is Commercial RE having (likely to have) problems of the same scale?

I understand that Northern Rock is using a charity in Jersey (which came as a bit of a surprise to the charity), to funnel the top layer of business into a holding company called Granite, who would reciprocate by providing funds to write more business. It’s said that it the conveyor belt stops, Northern Rock won’t be able to honor it’s bailout loan. Moreover, many Northern Rock customers are rather peeved that all the crap as left onshore, while the best business was moved offshore presumably out of reach.

[34f3f3f]

I’m sailing on the same tack as Navydoc. Sideliners, overhead circlers, underground burrowers unite.

[34f3f3f]

I’m sailing on the same tack as Navydoc. Sideliners, overhead circlers, underground burrowers unite.

[34f3f3f]

I’m sailing on the same tack as Navydoc. Sideliners, overhead circlers, underground burrowers unite.

[34f3f3f]

I’m sailing on the same tack as Navydoc. Sideliners, overhead circlers, underground burrowers unite.

[34f3f3f]

I’m sailing on the same tack as Navydoc. Sideliners, overhead circlers, underground burrowers unite.

[34f3f3f]

If some people are prepared to pay these sorts of prices, and no doubt there are a few, that’s pretty desperate, and wherever there is desperation, it’s an indication that it’s neither the time not place to be looking. The notion that it’s still a great time to buy in places where prices are still appreciating is history. Buyers with any grasp of reality don’t want to hear that. Every time a Realtor tells me that prices are still appreciating, or properties are getting multiple offers, I just walk straight out of the door, because it’s just the same old insanity that got us into this mess in the first place. It doesn’t work as an incentive or pressure in this market anymore. Yes, La Jolla is nice, but not that nice that I’d want to throw stupid money at. No doubt cache is a big part of pricing, and that is probably the hard outer shell that needs more than just a little tap to crack.

[34f3f3f]

If some people are prepared to pay these sorts of prices, and no doubt there are a few, that’s pretty desperate, and wherever there is desperation, it’s an indication that it’s neither the time not place to be looking. The notion that it’s still a great time to buy in places where prices are still appreciating is history. Buyers with any grasp of reality don’t want to hear that. Every time a Realtor tells me that prices are still appreciating, or properties are getting multiple offers, I just walk straight out of the door, because it’s just the same old insanity that got us into this mess in the first place. It doesn’t work as an incentive or pressure in this market anymore. Yes, La Jolla is nice, but not that nice that I’d want to throw stupid money at. No doubt cache is a big part of pricing, and that is probably the hard outer shell that needs more than just a little tap to crack.

[34f3f3f]

If some people are prepared to pay these sorts of prices, and no doubt there are a few, that’s pretty desperate, and wherever there is desperation, it’s an indication that it’s neither the time not place to be looking. The notion that it’s still a great time to buy in places where prices are still appreciating is history. Buyers with any grasp of reality don’t want to hear that. Every time a Realtor tells me that prices are still appreciating, or properties are getting multiple offers, I just walk straight out of the door, because it’s just the same old insanity that got us into this mess in the first place. It doesn’t work as an incentive or pressure in this market anymore. Yes, La Jolla is nice, but not that nice that I’d want to throw stupid money at. No doubt cache is a big part of pricing, and that is probably the hard outer shell that needs more than just a little tap to crack.

[34f3f3f]

If some people are prepared to pay these sorts of prices, and no doubt there are a few, that’s pretty desperate, and wherever there is desperation, it’s an indication that it’s neither the time not place to be looking. The notion that it’s still a great time to buy in places where prices are still appreciating is history. Buyers with any grasp of reality don’t want to hear that. Every time a Realtor tells me that prices are still appreciating, or properties are getting multiple offers, I just walk straight out of the door, because it’s just the same old insanity that got us into this mess in the first place. It doesn’t work as an incentive or pressure in this market anymore. Yes, La Jolla is nice, but not that nice that I’d want to throw stupid money at. No doubt cache is a big part of pricing, and that is probably the hard outer shell that needs more than just a little tap to crack.

[34f3f3f]

If some people are prepared to pay these sorts of prices, and no doubt there are a few, that’s pretty desperate, and wherever there is desperation, it’s an indication that it’s neither the time not place to be looking. The notion that it’s still a great time to buy in places where prices are still appreciating is history. Buyers with any grasp of reality don’t want to hear that. Every time a Realtor tells me that prices are still appreciating, or properties are getting multiple offers, I just walk straight out of the door, because it’s just the same old insanity that got us into this mess in the first place. It doesn’t work as an incentive or pressure in this market anymore. Yes, La Jolla is nice, but not that nice that I’d want to throw stupid money at. No doubt cache is a big part of pricing, and that is probably the hard outer shell that needs more than just a little tap to crack.

[Author]

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