Biggest real estate bankruptcy in U.S. history

[don]

Re: Biggest real estate bankruptcy in U.S. history

Unfortunately, our [iTulip] prognosis is that Las Vegas becomes a ghost town. First it gets hit with the depression, then an anti-gambling moral movement. State lotteries will be abolished, too.

I'm not so sure about the end of state-sanctioned gambling.

My 100,000 person burg is discussing a city lottery :eek:

and on the state (California) level, once upon a time only individual lottery winners would consider advances on their winnings from lottery loan sharks. Now the state is proposing doing the same on future state lottery revenues.

Gambling a moral hazard here in Cali? Unlikely anytime soon :rolleyes:

[idianov]

Re: Biggest real estate bankruptcy in U.S. history

Goldman has 44% exposure to commercial mortgage backed securities in his portfolio leveraged at 14x according to Reggie Middleton's latest take on GS. Read Goldman Sachs - GGP Connection .

The current GS leverage is 1:23. See Goldman Skips Month, Increases Leverage (slightly)

Here is CMBX AA spead as of Apr 17:

cmbx aa 20090417.png

Source...

[sutro]

Re: Biggest real estate bankruptcy in U.S. history

Was that the Nut Tree?

[don]

Re: Biggest real estate bankruptcy in U.S. history

"A lot of people don't have anyplace to go now."

Joe McConnell, 22 years at Bay Area Traffic Metro Network, on the falloff of SF Bay bridge traffic.

Commuters, shoppers, the night-on-the-town people....

[BadJuju]

Re: Biggest real estate bankruptcy in U.S. history

Our house was appraised at $10,000 more than last time. :cool:

[don]

Re: Biggest real estate bankruptcy in U.S. history

Our house was appraised at $10,000 more than last time. :cool:

Are you getting a lot of Floridians up your way?

[cjppjc]

Re: Biggest real estate bankruptcy in U.S. history

Our house was appraised at $10,000 more than last time. :cool:

Appraised by whom?

[BadJuju]

Re: Biggest real estate bankruptcy in U.S. history

Appraised by whom?

The city, I guess. =3

[cjppjc]

Re: Biggest real estate bankruptcy in U.S. history

The city, I guess. =3

Ouch. That's going to cost.:eek: