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Originally posted by Rockpuck
And it only makes planning for the future that much harder, uncertain and shrouded in possibilities. Not just from an investment standpoint, even from a employment, inflation, savings, everything standpoint.. Interesting times, to say the least.
No recovery for U.S. property markets until 2017
NEW YORK (Reuters) - The U.S. urban commercial real estate markets probably will not recover until 2017, the head analyst of commercial mortgages for Deutsche Bank Securities (DBKGn.DE: Quote, Profile, Research, Stock Buzz) said on Monday.
"The froth is still working itself out," Richard Parkus, Deutsche Bank head of Commercial Mortgage-backed Securities and Asset-Backed Securities Synthetics Research said at the Reuters Global Real Estate Summit in New York. "We are currently in something which is comparable to what we saw in the 1990s and potentially worse."
U.S. commercial real estate values could fall by more than 50 percent from the peak in 2007, he said.
Although asking rents are down about 28 percent in New York, factoring in free rent and other perks by landlords, rents are down about 50 percent, Parkus said.
"Rents will be back to where they were in 2017," Parkus said. Building prices also will take six to eight years to recover, he said.
The U.S. commercial markets are deteriorating at an increasing pace as rent dries up and demand plummets. That is leaving borrowers struggling to make their monthly mortgage payments.
"The number of new loans that are becoming delinquent each month are defaulting at rates between 5 percent and 8 percent per year, with the most loosely underwritten loans of 2007 defaults at 8 percent per year, Parkus said. That puts accumulated losses at about 4 percent this year, and 12 percent over the next four years.
Loans loses ranged between 7 and 11 percent a year during the commercial real estate crash of the early 1990s.
"We are not only not approaching stability, we are at a period of maximum deterioration," Parkus said.
Originally posted by redhatty
reply to post by Rockpuck
FROM EXPERIENCE (HURRICANE KATRINA)
Buy LOTS of ramen - the cheap stuff. #1 it's cheap, #2 it is great to give to neighbors, friends, hungry people rather than have them try and take what you have saved up, #3 it can be eaten cooked or uncooked.
If they think that's all you got, they will take some & leave you be :-)
Originally posted by GreenBicMan
What I am looking at
Seems to be setting up quite well for our test of the 50 EMA before we move higher..
If you go back about 30 pages you will see that this technically needed to happen bc we needed to fill that gap up (about 10 days ago) before we move higher
This would also correlate with the full stochastic trendline I have drawn as well.
White House sees 10 percent unemployment within months
WASHINGTON (Reuters) - The U.S. unemployment rate is likely rise from already high levels to 10 percent in the next couple of months, a White House spokesman said on Monday.
"I think the president has said this, and I would certainly say this, I think you're likely to see unemployment at 10 percent within the next couple of months," White House spokesman Robert Gibbs told reporters.
The U.S. unemployment rate already stands at 9.4 percent, the highest level in about 25 years, and many analysts believe it could continue to climb despite the $787 billion economic stimulus package passed early this year by Congress.
Earlier this year, the Obama administration had predicted the unemployment rate would peak at 8 percent before beginning to fall toward the end of 2009.
President Barack Obama is expected to address the outlook for the economy at a White House press conference on Tuesday.
June 22 (Bloomberg) -- Executives at U.S. companies are taking advantage of the biggest stock-market rally in 71 years to sell their shares at the fastest pace since credit markets started to seize up two years ago.
Insiders of Standard & Poor’s 500 Index companies were net sellers for 14 straight weeks as the gauge rose 36 percent, data compiled by InsiderScore.com show. Amgen Inc. Chairman and Chief Executive Officer Kevin Sharer and five other officials sold $8.2 million of stock. Christopher Donahue, the CEO of Federated Investors Inc., and his brother, Chief Financial Officer Thomas Donahue, offered the most in three years.
Originally posted by redhatty
In a normal world, I would agree with you completely that the items you pulled from that list are *liabilities.*
But in the magical skittle-crapping unicorn world of the FED ( at least the world in that specific report ) EVERY ONE OF THOSE LISTED is considered a "Financial Asset" in the referenced Fed report.
Kinda hard to call the game here when what would normally be a liability is now magically considered an asset, ya know?
Here is my article on the series of compelling dollar-related mysteries of the past couple of weeks. Please read it first, rec it if you apreciate the coverage, and return here for discussion. I want to know your thoughts on this matter, which I think is potentially one of the most fascinating chain of events I've witnessed in world news in many years! I urge all Fools to take a personal interest in seeing that a comprehensive and satisfactory explanation of these events is offered to the citizens of the world.
.... This simply does not add up, and I urge all Fools to join me in demanding an honest explanation of these events from our very own favorite admitted tax-evader: Tim Geithner.