Posted by Leonard Steinberg on November 7th, 2012 As the second super-storm “Athena”, a strong nor’easter, approaches our shores with the expectation of super-strong winds, rain, snow and storm surges, we have to look towards a potentially bigger storm…..THE FISCAL CLIFF. Unlike nature, this is a $ 7 trillion storm we can actually be prepared… [Read More]
MORE CONTRADICTIONS
Posted by Leonard Steinberg on June 20th, 2012 We can now all agree on one thing about the economy: housing has been the # 1 driving force behind the meltdown. Too many people bought over-priced houses that they could not afford. There was a massive over-supply. And there were too many speculators driving pricing up… [Read More]
GREEK LESSONS: IS HOUSING THE ANSWER?
Posted by Leonard Steinberg on June 20th, 2012 As the “Great Greek Tragedy” unfolds, there are so many lessons to be learned. This is what I am seeing: 1) It is clearly evident that salaried people are those carrying the brunt of the tax burden in Greece: that burden will more than quadruple now… [Read More]
BETTING ON THE ECONOMY….
Posted by Leonard Steinberg on May 4th, 2012 When Warren Buffet speaks, I listen: To-day he said the tepid economic US growth is directly related to the housing market. The minute construction picks up, so too will the economy as construction fuels job growth and spending. Right now I am aware of several thousand new apartments in… [Read More]
US HOUSING: THE LONG, SLOW (BUT SURE) RECOVERY
Posted by Leonard Steinberg on April 11th, 2012 Some things take time, unfortunately, especially economic cycles. We are currently witnessing the emergence of the housing market from a very deep recession (border-line depression) and if history matters, the slow recovery we are experiencing appears to be in line. Housing bulls point to a stabilization of prices… [Read More]
OCCUPY WASHINGTON DC? THE PEOPLE ARE ANGRY!
Posted by Leonard Steinberg on November 19th, 2011 As our beloved government teeters on the edge of another major meltdown with the ‘super-committee’ due to formulate a solution to our budget crisis by the middle of next week (something that could cause radical ramifications throughout the markets, especially the credit markets…. think housing), maybe its… [Read More]
HOUSING INVENTORIES WILL RISE THROUGH 2011
In the WALL STREET JOURNAL: Sales of new homes are near 47-year lows, yet the supply of new and existing homes is expected to grow in the months ahead as construction ramps up and a wave of foreclosed homes hits the market. LUXURYlesson: “While the USA in general will experience increases in inventories, the luxury… [Read More]
BUFFET TALKS REAL ESTATE
Billionaire Warren Buffett said the U.S. residential real estate slump will end by about 2011, predicting that’s how long it will take demand for homes to catch up with the supply. “Within a year or so, residential housing problems should largely be behind us,” Buffett wrote Feb. 27 in his annual letter to shareholders of… [Read More]