Analyses are solely the work of the authors and have not been edited or endorsed by GLG.
July 9, 2008
Envisioning a world of $200-a-barrel oil | www.latimes.com
Changes to housing, autos, urban planning, public transportation, carpooling, consumer goods and retailing, manufacturing, restaurants, agriculture, mining and utility providers are coming. There will be suppliers close to the ultimate user, zero or virtual mobility for workers and local vacations or recreation, we are told.
Housing Market Costs Coming To Roost Now
July 8, 2008
Fix Congress’s Housing Fix | www.usnews.com
The public is now going to be asked to support the housing mania of the 1st years of this century with tax look-backs to previous profits, with extended activity by the quasi-public lenders, Freddie Mac and Fannie Mae, and with government backing for loans written down to 85% of the new appraisal. Industry insiders will love this direction as they seek to absolve their balance sheets of low quality assets. If enacted to a more maximum rather than minimum degree, it’s possible that companies whose quality and liquidity issues should have sunk them will now have shifted all responsibility to the U.S. tax payer.
How Long Is This Going To Take?
July 8, 2008
Bank Job | www.portfolio.com
This article notes the recent statement building financing of financial institutions and concludes its opening remarks with “I don’t know, you don’t know, and they don’t know”. The article states the assumptions of current bank recapitalizations and in particular recaps the Bear Stearns acquisition. It’s notable to me that Warren Buffet recently said that he didn’t have the appetite to pick that one up on those acquisition terms, or something to that effect.
Invest in Real Estate Beyond Shanghai and Beijing
July 2, 2008
Foreign investment in Shanghai property market hit RMB 10 | www.chinaknowledge.com
Shanghai has a lot to offer the foreign investor who are still able to deal in China despite the approvals needed. But the story has moved on to the 2nd tier cities and increasingly the 3rd tier cities, investors just need an investment committee comfortable dealing in cities they have never heard of.
HELOC Losses are Increasing and Will Reduce Access to the American Dream
June 23, 2008
The American Dream Goes On | www.usnews.com
In their first quarter results, several banking organizations reported stunning losses and provisions generated by these loans, with predictions of much more to come in future quarters. Indeed, national banks, which hold about half of all home equity loans, sustained as much loss from this type of credit in the first quarter of this year than they did in all of 2007. Home equity lending has grown dramatically in recent years, more than doubling since 2002 to about $1.1 trillion outstanding!
Commercial Real Estate Recourse Financing
June 23, 2008
Guarantee Gamble: Developers Dread Return of Recourse | online.wsj.com
There were names like Fox & Carskadon, McNeil and Consolidated Capital among the biggest income property acquisition syndicators in the 70’s and 80’s, but no more. And no more are thousands of other syndicators of that era big and small, who generally fell by the wayside as they could not execute. And the reason they could not execute was they could not exit their existing portfolios to substantiate further activity. And the reason they could not exit was that the tax write-offs that were the foundations of their business were not available to future buyers after tax code changes. So activity slowed, and the recourse provisions of their debt put them down.
June 23, 2008
The American Dream Goes On | www.usnews.com
The referenced article begins with the now usual doomsday message which many including this writer have now exhausted ad nauseam. Three relatively short paragraphs later, the Editor-in-Chief wraps up the forgone conclusions neatly and attempts to move on to some new meat. You can read the rest of the article to absorb his wisdom. This guy is a great real estate investor and journalist and I think he mostly always presents good food for thought. I admire.
June 20, 2008
No to Boom or Bust | www.abs-cbnnews.com
Present inflationary and other negative concerns are affecting the local economy but can property developers ride out the strom?
Transparency on Philippine prime property bidding ultimately good for economy
June 20, 2008
Shimao offer on Fort Boni nixed | www.businessmirror.com.ph
The Philippine government's stricter bidding procedures for its prime property in Bonifacio Global City in Taguig, Manila shows its renewed efforts for transparency which could actually translate to more FDI's in the long run.
Would you buy a commercial property with cash or take out a mortgage?
June 20, 2008
Would you buy a commercial property with cash or take out a mortgage? | www.globalfndpartners.com
Did you ever wonder if you should put a large down payment on your commercial property purchase or as little as possible? If the investment in real estate is to be preferred over another investment vehicle, that real estate must produce value to you in greater amounts than the other potential investments Are you the type of person that likes to keep every nickel leveraged and are you willing to devote considerable time and energy chasing after the best return? Or would you rather make one purchase and forget about it, content that your property might appreciate at its own rate?
If Borders Can't Make It Here, They Can't Make It Anywhere
October 14, 2009
There is a bull in the Boston office market--in fact there are many
October 7, 2009
Resort Real Estate & Recovery Speed: What Comes Back Quickest?
September 30, 2009
FDIC to create value "mark" by selling Corus portfolio
September 24, 2009
The Condo-Hotel Gone Bad: A Particular Corner of Hell
August 24, 2009