Mortgage Rates Tumble In a surprise, [The Federal Reserve] dramatically increased the amount of money it will create out of thin air to thaw out the still-frozen credit markets that have cramped lending to consumers and businesses alike. Indeed, the immediate effect on the bond markets was striking, with prices rising and yields dropping sharply...Read More
Multiple Offer Premium > Discount? Where: 30XX 43rd Ave South, in Minneapolis’ Longfellow neighborhood (and just 5 blocks west of the Mississippi)How much: $17,900Tax assessed value: $143,000 (land – $44,200; building – $98,000)On Market: 3/13/09Off Market: 3/16/09 So what are the chances that the ultimate Buyer is actually going to pay $17,900 for this foreclosed...Read More
“Waiting for the Light” “Be aware that the market does not turn when it sees light at the end of the tunnel. It turns when all looks black, but just a subtle shade less black than the day before.” –Jeremy Grantham, “Reinvesting When Terrified“; (March 2009 Newsletter) Grantham, who manages $85 billion and is one...Read More
