economy: Obama & Econ 101 - 06/02/12 08:45 AM
Obama & Econ 101
I just heard our illustrious President on the radio putting his spin on the recent dismal economic numbers. I'm sure you've heard them - unemployment up, gas prices up, job creation down, consumer confidence tanking again - yeah, that economic news. So the President's take...-
"The Legislature needs to make it easier for companies to hire people."
And that, Folks, is the heart of the problem right there. His first reaction to anything involves more government. The Legislature needs to make it easier. Really? I mean, don't get me wrong, over-regulation and interference by the government is … (13 comments)

economy: Obamanomics to the rescue? Ski areas say NYET! - 11/21/08 10:02 AM
11-20 obamanomics & ski areas Obamanomics to the rescue? The Associated Press November 20, 2008, 1:08PM ET  3 Colorado ski resorts bracing for layoffs DENVER
Ski resort workers at three Colorado mountains are bracing for layoffs as a Canadian resort operator says the poor economy will force job cuts.
Intrawest Corp. this week did not say exactly how many jobs will go at its three owned or operated Colorado resorts -- Copper Mountain, Steamboat Ski & Resort and Winter Park. But the Vancouver-based resort operator says the drop in business at its resorts is unlike anything it has experienced in … (16 comments)

economy: Dr. Greenspanstein's Monster & Gambler Mae - 01/17/08 03:47 PM
Well, here's hoping you're safely through the holidays, and that Santa, in his munificence, deposited more than the richly deserved lumps of coal in your moth eaten stockings. With that cheery greeting,  let's start the year with a slap in the yap from the housing market. I know I told you about the light at the end of the tunnel last month but we're not out of the tunnel yet - so keep slogging.
I keep getting asked about the various ‘bail-out' packages being proposed by every sop from Sacramento to DC. So I'll just ask you - do you think … (15 comments)

economy: Bush's Resignation Speech - 12/21/07 05:37 AM
Subject: BUSH'S RESIGNATION SPEECH If Bush resigned today, this is what his speech would be..... Normally, I start these things out by saying 'My Fellow Americans.'      Not doing it this time.  If the polls are any indication, I don't know who more than half of you are anymore. I do know something terrible has happened, and that you're really not fellow Americans any longer. I'll cut right to the chase here: I quit.   Now before anyone gets all in a lather about me quitting to avoid impeachment, or to avoid prosecution or something, let me assure you: There's been no … (0 comments)

economy: Short Sale Tax Foregiveness Bill signed - 12/21/07 04:38 AM
President Bush signed into law today a new measure giving tax breaks to homeowners who have mortgage debt forgiven. Under preexisting law, the debt forgiven by a lender, such as for short sales and refinances, was generally taxable to the borrower as debt discharge income. With the passage of the Mortgage Forgiveness Debt Relief Act of 2007, a taxpayer does not have to pay federal income tax on debt forgiven for a loan secured by a qualified principal residence.This tax break applies to debts discharged from January 1, 2007 to December 31, 2009. Qualified principal residence indebtedness is debt incurred in … (6 comments)

economy: Boom & Bust Cycles - A Real Estate Primer - 12/17/07 04:40 AM
If you read my rant at the media in this column a couple months back, you remember one of the things I told you was how the media tends to generalize. If you believe what you read and see in the mainstream media, network TV, syndicated columns, etc., you're laboring under the delusion that the entire housing market from one coast to the next is failing, prices plummeting, foreclosures skyrocketing - and it's just not true.
Areas like ours that grew the fastest during the past 5 year run-up, (Riverside County led the nation with 155% appreciation from 2001 - … (2 comments)

economy: Let the Fingerpointing Begin - Real Estate Fraud - 12/15/07 06:34 AM
When the market heads south, as it has done spectacularly in the recent past, people are always looking for whom to blame. As long as the fingers are pointed comfortably in other directions, they are justified in assigning guilt to most any party who has been involved in even the most peripheral aspect of the housing market. And make no mistake, there's more than enough blame to go around. You've read my rants on greed - the greed of lenders, the greed of homeowners, the bias of the media, the gullibility/culpability of the public and the failings of government lending programs … (6 comments)

economy: Observations on the Housing 'Crisis'. - 12/13/07 11:05 AM
In the past month or so, I've talked with economists from the California and National Association of Realtors, Dr. John Husing, the CEO's of Coldwell Banker, Prudential and Re/Max as well as a Deputy Director of the FED. They are all in agreement on the housing situation - they don't know what in hell is going on either. But I've panned a few nuggets from these conversations that might help you better understand where we are and allow you to make more informed decisions on your own housing questions.
#1 - All Housing Is Local. Every market is different with its own … (30 comments)