Must Listen: A little for everyone......

The crux of the problems he talks of seems to get back to lending standards, which were quite "liberal" and have come back to bite them in the backside.
 
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Thanks sunfish for the info, it was really interesting to get an update on just how RE is tracking over there. Some amazing stats for those thinking of investing in the US. To summarise his words:

2008 1.8m foreclosures
2009 2m
2010 looking at 2.5m

Currently:
55m mortgages
8m are 90days or more in arrears which typically head to default.
12m where loan greater then house value, many will end up foreclosures.

On top of that theres an estimated 1 trillion of commercial loans on 3-5 yr terms coming due which won't get much finance from banks in the current environment.

He still thinks it will recover in 1.5-2 yrs but I'm not sure how with commercial stuff coming soon?
 
Thanks for posting that. I'm not sure that he comes across as a realist to me, just cautious. He'd need to be, because he and the entire real estate industry have lost a lot of credibility.

The inner real estate agent is coming out in him, telling new investors that now is a good time to buy, even though he says that there is this tsunami of commercial debt about to implode with so many 3-4 leases not being renewed.
 
Thanks for posting that. I'm not sure that he comes across as a realist to me, just cautious. He'd need to be, because he and the entire real estate industry have lost a lot of credibility.

The inner real estate agent is coming out in him, telling new investors that now is a good time to buy, even though he says that there is this tsunami of commercial debt about to implode with so many 3-4 leases not being renewed.

He's been busy buying up agencies for Buffet, they've been #2 in the states for a while now with a range of offices and agencies scattered throughout

Real Estate is on the Buffet Table also, along with Insurance, Dairy Queen etc etc etc
 
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