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Month in Review, May 2011

8 July, 2011 (09:34) | Admin, Eminent domain, Housing, Innovations, Markets, Month in review, Nonprofits, Retail |

[Previous Month in Reviews available here: Apr 11, Mar 11, Feb 11, Jan 11]   Desperate economic times summon forth desperate fiscal measures, and with domestic public finances under stress at all levels – Federal, state, and local – we will see the joining of many years’ battles between unexpected antagonists, as I featured at […]

Not dislocating the ARMs: Part 2, time to splint it up

7 July, 2011 (10:00) | Banks, Condominiums, Innovations, Miami, Subprime, US News, Workouts |

[Continued from yesterday’s Part 1.]   By: David A. Smith   Yesterday we discovered, via a New York Times story by David Streitfeld that should really have been rewritten before publication to make it actually coherent, that so-called ‘option ARM’ mortgages were financially engineered to be viable only in three limited circumstances: if the property […]

Not dislocating the ARMs: Part 1, pulling it out of its socket

6 July, 2011 (13:58) | Banks, Condominiums, Innovations, Miami, Subprime, US News, Workouts |

By: David A. Smith    You’re hanging on to someone’s arm at an awkward angle, and her weight is gradually dislocating her shoulder from of its socket – which would bring her excruciating pain.   That’s really got to hurt   In fact, seeing the dislocation coming, you’d want to shift your grip and her […]

Market flexing

5 July, 2011 (11:39) | Apartments, Cities, Condominiums, Demand, Markets, Miami, Rental, US News |

By:David A. Smith    If you build it, they will rent.     What do you think, Rico, time to buy?   It may not be at the price justifying the construction cost; it may not make the original investment decision a wise one.  But they will rent, at a market-clearing price, and as revealed […]

Slumming it, nineteenth-century style: Part 2, we stayed to change

1 July, 2011 (10:00) | Cities, History, London, New York City, Slum tourism, Slums, Theory, Urbanization |

By: David A. Smith   [Continued from yesterday’s Part 1.]   Yesterday’s post concluded with the New York Times’ 1884 slumming reporter venturing deep into the darkest Bowery, where he was surprised by the humanity he found:   A comparatively small environment on the west side may be called the microcosm of the “slummer” for […]