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Jeff Nielson There are two sources for most housing data in the United States. One source is the National Association of Realtors (NAR). Given that this organization represents only people who sell U.S. residential real estate for their livelihood, this is an extremely biased entity – with an obvious agenda. They represent the more reliable source for data. The other major source of data is the U.S. government, itself. I have written volumes on the legendary excesses
The latest bubble is about to burst, but this time it’s in the commercial market. Here’s how to see it coming. By Katie Benner NEW YORK (Fortune) — When the FDIC closed Chicago’s Corus Bank last month, it may have signaled the beginning of the next shock to the banking system: commercial real estate defaults. Corus, whose balance sheet was larded with bad construction loans, is just one of many banks that have a slew of this debt on their books. Refinancing the $2 trillio
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