Happy Holidays to you!
Black Friday looks good in the stores. 10% more cars in parking lots, high end retails not discounting, and if you see something you want, it may be a good idea to buy it then..
DUBAI WORLD is caught in great deleveraging cycle and causing the dollar to rally, gold to fall and for the Commercial Mortgage industry RATES are FALLING. The real estate investments of this company have more loans than they can pay or pay off, like many Real Investments in this DELEVERAGING CYCLE.
The State of Commercial Mortgage Finance is bad but much better than a year ago. The first new CMBS sales was a success but was very well underwritten.
FHA is going gang busters on FHA 223(f) Loans and FHA 232 LEAN refinances.
Fannie Mae and Freddie Mac are still open but business is down due to lower property values and higher underwriting standards.
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