Tag: Real Estate

James Rickards, Editor of Strategic Intelligence, a financial newsletter and New York Times bestselling author joins Carol Roth to discuss the various reasons why different companies pay no federal income taxes, what the New York Times got wrong with the “exposé” on President Trump’s taxes and how you can reduce your own tax burden. Plus, a discussion on the Fed, the money supply and inflation. 

Plus, a “Now You Know” segment on gold. 

With the Election 2020 and COVID monopolizing the news, the financial distress of businesses is receiving little coverage. Stephen Moore, White House Economic Adviser and Economic Recovery Task Force answers the hard questions about the tsunami of Commercial Real Estate defaults, small business closures, the National Debt, AB5, Payroll Tax holiday. Then at @30:10, Congressional Candidate for CA-7 Buzz Patterson joined Dave at The Real Side Radio on the Salem and GCN Network; Buzz discusses why the Biden campaign is scared, flipping the House red through California, the very real threat of Vote By Mail balloting and how we may not know the results of the election for weeks beyond Nov. 4th. Find Buzz at http://Buzz4Congress.com.

Liquidating the ‘Hood

 

Stranded assets are the beached whales of capitalism. Capital invested in what looked like a good long term bet, that has now turned into an illiquid headache due to a change of circumstances. This term is often used in the context of regulation and environmentalism, but assets can become stranded in other ways:

If you keep even half an eye on the investing scene, you know that commercial real estate in general, and retail in particular, has been in trouble for some time. The advance of online shopping and networked business in general has been relentless and deadly. ‘Category killer’ store fronts and department stores alike have fallen to bankruptcy and reorganization, shopping malls have lost their anchor tenants, gone under and been rebuilt into everything from housing to entertainment centers. And that was before COVID, and before looters and arsonists showed up at the door.

Member Post

 

While winding down before Christmas celebrations begin in earnest, I have been playing a park simulator. Jurassic World: Evolution is among this month’s “free” games on Xbox Live. It’s basically like designing and operating a zoo, only the exhibits are more likely to break free and eat the guests. After learning the ropes at the […]

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Why Can’t the US Use Its Assets Like the UK?

 

If you’re like many Ricochet folks, you get “The Daily Shot” in your inbox every day. (No, I’m not going to scold you if you don’t.)

Wednesday morning’s edition caught my eye because of some talk about Queen Elizabeth II getting a pay raise. As Americans, we’ve occasionally made comparisons between the Royal Family’s expenditures versus our own First Family. This was a relative sport for some, until earlier this year.

In both the US and the UK, the citizens bear the bill for their respective “families,” but across the pond, that isn’t as direct as it is here. The esteemed writer and editor of the daily newsletter did a fine job of explaining that:

Richard Epstein describes how government interventions have driven the Golden State’s housing prices to extraordinary heights.

Trump: Putin’s Manchurian Candidate?

 
The Daily Beast
The Daily Beast

In light of the DNC hack (which digital signatures point to Russia), we would expect the Democrats to divert attention from their embarrassing emails confirming Trump and Bernie’s accusations of a ‘rigged system’. Schadenfreude for the Right, indeed.

Member Post

 

The three of us stepped outside our Times Square hotel into the humid sea of humanity on this clear and warm day. This was my sons (15 & 10) first time in NYC and my first time playing purposeful tourist as opposed to my typical airport-hotel-meeting-hotel-airport NY itinerary. Say what you will about the Disneyfication […]

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Member Post

 

Our house after insurance’s “repairs.” Renters had occupied it for years by then. I knew that before we left for Montana in July 2006, I would kiss the house goodbye. And so I did–its bland white wall in the dining room followed by the vanilla stucco exterior. It was a typical San Diego house, one story, a […]

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Loosening Home Lending Standards — What Could Go Wrong?

 

051414housing-600x396After a near-depression and worst-ever financial crisis that cost the US economy as much as $14 trillion, one might think Washington would be careful to avoid repeating the same policy mistakes. One might think, for instance, Washington would think twice and then thrice before loosening mortgage lending standards to boost home ownership, particularly among low-income borrowers. Because, you know, loosened mortgage standards seem to have played some role in helping set the stage for the catastrophic mortgage meltdown.

Recall three conclusions from the National Commission on the Causes of the Financial and Economic Crisis in the United States:

1.) From the majority report: “We conclude collapsing mortgage-lending standards and the mortgage securitization pipeline lit and spread the flame of contagion and crisis.”

New Yorkers Fail Economics — Rob Long

 

It sometimes seems like the New York Times does a piece about rising real estate prices hourly. The components are almost always the same: rising prices, high demand, tight availability. (The NYT tends to see these things as distinct from each other, rather than interconnected.)

Usually, they’ll pick a “typical” New Yorker — read: a friend of a friend of the reporter — as a peg on which to hook the piece.