November 5, 2009

"Oxymoron" — Exhibit A

My (almost) 10 year-old son just tripped across the word “oxymoron” this week, and I trotted out the usual examples: ‘jumbo shrimp,’ ‘deafening silence,’ etc. However, it’s hard to beat the banner we saw hanging over a shelf of new arrivals at the local Barnes & Noble: ‘New History.’
Read More

Edina Home featured in NY Times

“What You Get For $1.1M” It’s always a kick when The New York Times’ weekly real estate feature, “What You Get For $_____ “, showcases a local home. That’s especially true when it’s as gorgeous as this one (the Dining Room is pictured above). The home, located at 5429 Woodcrest Drive, is about a mile...
Read More

Tax Credit Extension/Expansion

(Almost) Done Deal! The Senate passed the bill 98-0 yesterday; the House followed suit today. President to sign tonight/tomorrow. Highlights per Steve Mohabir, City Lakes’ in-house loan officer: One provision will continue for five months a popular $8,000 credit for many first-time home buyers, which was to expire Nov. 30, and create a $6,500 credit...
Read More

Housing Multiplier Effect

“Revenue-Positive” Fiscal StimulusGive a too-big-to-fail financial institution $1 of taxpayer money, and what do they do with it? As best I can tell, one of two things: 1) lend it back to the government for (risk-free) interest; or 2) borrow $10 more against it, then bet all $11 in the credit derivatives market. Of course,...
Read More