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The global credit crunch has some serious global effects brewing.This Op-Ed piece in the New York Times describes the financial behind the scenes dealings of the World Bank and how it works to assist developing nations with...

The shift from condo to condo-tel marks yet another level of capitulation in the Miami condo market. One of the buildings that I’ve seen, Opera Tower, is held by a very strong developer, and longtime landlord named Tibor...

In this Miami Herald Article, there’s a nice FAQ about who qualifies for the Obama mortgage relief program’s Phase 1.Although many people are in disbelief, there’s actually a substantial number of people with...

As noted in my last post, Fannie Mae tightened lending guidelines for condos in Florida, as well as added a specific review process for new condos in Florida that other states’ housing does not have to endure. This new...

Yes, the next leg down for the Florida condo market is potentially in sight, unless developers and associations wise up and move quickly to obtain FHA financing approval.Though this Miami Herald article on the Florida condo...

Yes, Chanukah came early this year in the Stern residence 🙂 Mortgage Rates Left in Dust by Treasuries, Failures Americans seeking mortgages aren’t getting the full benefit of record low yields on Treasuries and...

I guess that today was the True Minsky moment that we have all been looking for as the Federal Reserve Chairman Ben Bernanke issued a historic rate cut .  Mortgage bond yields fell to an all-time low toda y too, and yes,...

Dec. 16th Update: The 10 yr t-bill is at it’s All Time Low right now.  Here’s a CNBC Article on Warren Buffet and how many thought he conspired to build a Ponzi scheme early in his career.   Original...

Today, mortgage interest rates dropped to exceedingly low levels and I took advantage to lock 3 clients in with 5-5.25% interest rates on their home loans.Anyone out there who is looking for payment relief, should be on the...

I know that this site is a little off topic of this blog, but I can tell you that this is a real insider’s ironic memoir of the credit crunch. The blog chronicles “The Spiral” and...