Bronx Real Estate Down

pix, source nytimes.com Yankee stadium.


The Brodsky organization admits that Bronx real estate is down, and can continue,

"on the way down, on the way. on the way down.
And I won't forget the bubble trouble.
I got ripped off , on the way down,
But I did lie too, bout my income, on that arm mortgage.

(spoof, on the way down, song)

There is still a lot of denial about the freeze up of the refinancing of the commercial real estate and all that. A lot of denial about the problems with the East River Plaza. Maybe problems with the new Yankee Stadium. Will people buy all the million dollar boxes>

Bad Medicine from Bernard Madoff, GMAC

GMAC is like Bad Medicine.
The system's bad medicine again. Shake it up.
Bernie Madoff's bad medicine.
Just another chance for a bailout again.

(spoof, Bon Jovi, Bad Medicine)

This has really been a case of insanity, with the Federal Reserve and US Treasury agreeing to let GMAC become a new "bank." At the chairmanship of GMAC is Ezra Merkin, (former?) Pres. of the 5th ave Synagogue in NYC, and a key conduit of funds into the crooked ponzi scheme of confessed crook, Bernard Madoff, and his $50 billion ripoff. Shake it up.

Madoff still alive, but that French Guy is Not

Madoff is still alive but the French guy, Rene-Thierry Magon de la Villehuchet is not. Another comment of interest is that the Madoff firm functioned as a banker for governments such as the state of Israel. In terms of the real estate collapse, victims include the Blumenthal Associates, and their project of the East River Plaza, in East Harlem. Also hit were their partners, Forest Ratner. So this is going to be a huge hit of real estate, both commercial and in places like the Bronx as well. It really is time for the Homeowner and Bank Protection Act.

Madoff still alive, but that French

Fraud, Bernie Madoff and More Fraud

Huge losses from Huge banks are being reported associated with the collapse of the Bernard Madoff firm, from the Lipstick Bldg., at the 17th floor of 885 Third Avenue, New York, NY. Like the SIV, Structured Investment vehicles, and the REITs, Real Estate Investment things, the question is, is this a real loss, or the exposure of a "black box" to hide bad losses at the Madoff Securities firm. Britain's Royal Bank of Scotland Group PLC and Man Group PLC, Spain's Grupo Santander SA, France's BNP Paribas and Japan's Nomura Holdings all reported that they had "been John's at the cutest little Ponzi Whore house on Third Avenue."

Man Group, the world's largest publicly traded fund manager that reported exposure of around $360 million on Monday, yes they say "we are only babes in the woods. We don't know nuttin'.

Banco Santander, the largest bank in the euro zone by market capitalization, said its clients have euro2.33 billion ($3.07 billion) in exposure with Madoff, mostly through a fund called Optimal Strategic US Equity. Another babe in the woods complains "we wuzz robbed." Same for Royal Bank of Scotland, and Nomura Holdings. Thieves like to pose as victims.

Fordham Road Bid Fights for Sales

The Fordham Road event was both a Christmas tree and street lighting event andalso the opening of shopping discounts running through December 21st at stores throughout the area. This event took place in a tent, on Fordham Road, from 7 pm to 9 pm, at Bryan Park, crossing Kingsbridge Road. Sponsors of the event include NY Councilman Joel Rivera, Monroe College, the Football Team, the Giants, La Calle Radio, and Banco Popular. Obviously, the merchants of Fordham Road, Bronx NY, would prefer if customers stay uptown for their Christmas shopping rather than going downtown or elsewhere in New York, New Jersey and Connecticut. Commercial real estate prices have to be held up by some real sales, please, thank you.


There were two sets of choirs singing traditional Christmas carols, the Fordham University Gospel Choir, singing traditional songs like “Silent Night” and the Learning Tree Choir, which is a children’s choir. Kids also enjoyed the appearance of some librarians, who gave out children’s story books and read several stories to the children. Raffles were issued giving away various prizes. There was a guest appearance of NY Giant, Fred Robbins, the defensive captain of the Giants.

Plenty of coupons were given out by the Fordham BID, including free copies of “Time Out New York” magazine. Participating are 65 merchants from the Fordham BID, stretching from Jerome Avenue to Third Avenue, in a 10-percent discount offer until December 21st. You can present ads about this offer, and the ad is also downloadable from www.fordhamroadbid.com , or you can present a Metro Card, with some restrictions applying. Also look for extended shopping hours on Friday, December 19th, till 9 pm or later. Many small stores are participating in this offer and also larger stores like Best Buy, Footlocker, Modell’s Sporting Goods, Conway, and PC Richard Electronics. Even a couple of restaurants are participating like Best Italian Pizza, 200 East Fordham Rd., Splendid Deli, 387 East Fordham Road and KDY Fruit and Food at 2602 Grand Concourse. For more information about the Fordham BID, please call (718) 562-2104 or go to fordhamroadbid.org.

Police Gear and Real Estate Collapse

You never know, this real estate collapse may still in local situation becoming a police situation. It just may not be reported. You better have Surefire Flashlights if your riots are at night, so you, Mr. Policeman can see where you are going when you go to your confrontation of the little man who can't pay his bills. These lights can be used for civilian purposes as well, from the lapolicegear.com, my tough and rough buddies.

Why buy a Surefire Flashlight online? Well, for one thing, you will, for sure get your order filled in a brief amount of time, without hearing that the product that you need is out of stock. And second of all, these are the best flashlights in the world. These are Xenon Gas and Halogen lights that are just much more bright and powerful than anything that has been available before at a given battery power.

Of course, the next powerful technology that is coming to the world of lighting in a portable form is LED, Light Emitting Diode. These can last for hundreds of hours due to their super low use of electricity from your battery. Another thing to know about is lithium batteries, that are able to function well over a much wider range of temperature. With the winter coming, places in the northern United States can have night temperatures as low as 0-degrees Fahrenheit or even lower, so this is not a moot point, lithium batteries will give you top performance way over that of alkaline batteries in such an environment.

Real Estate Collapse and the World

The ongoing hitting of the collapse of the real estate bubble continues to have effects in the real world. Sheir Bair of the FDIC may say that she is helping 20,000 homeowners in trouble with Arms -- Adjustable Rate Mortgages-- associated with the taken over Indy Mac bank, but what about everyone else? What about the 2 million or so households who also need to be bailed out, or have the mortgages written off. You can put the mortgages in a freeze, like LaRouche's Homeowner and Bank Protection Act, and readjust them when the bubble finally goes all the way down.

Bailing Out Citibank but what of Housing?

Yes, it seems that to the tune of almost $300 billion, that Citibank has been bailed out. What relevance this has to the 1 million families who have lost their homes, and the 2 million more or so coming down the pike, I don't know. Yes, we have become slaves of the oligarchy again. Will Obama have the courage and the balls to lead an American Revolution against this disgusting debt slavery? We at realestate crash now do not know the answer, but at least we are smart enough to ask the question. And the best answer it seems is to freeze the mortgages, stop the foreclosure on family occupied homes, and take a few years for the whole thing to sort itself out. Not just let the interest rate go down, but after a few years of rental payments, let the principal go down too to "market levels." see Larouchepac for more.

Citibank and the Tank

Less Citibank has really tanked, and the real crash is upon it. I don't know what to do except put the damn thing through bankruptcy. The BS keeps flowing, but 1 million and more families have already been thrown out of their houses. Meanwhile Citibank is getting $269 billion in cash and loan guarantees. And this is still called capitalism? What a joke, this is the bailout empire of hyperinflation, on our way to a Weimar Germany or Fascist future. Tell Obama it is time to pull the trigger on the Anglo-Dutch oligarchy. It's way beyond real estate.

Real Estate and the Walk Away

Just walk away Renee. If you can't pay that mortgage, what can you do. There is a limit to torture, next stop is the Bronx Zoo, because they're after you. When things get really bad, it is time for a Forensic Loan Document Review. Get some help to get a real Home Loan modification. You can, for real, get Foreclosure Protection.

The script is that you bought into the real estate market to invest, or you bought your own house within the last ten years. You find it impossible or verging on the impossible to pay your mortgage payments on time. You also have little or no equity value in your home. This happens in many cases. People have gotten into Interest/Only loans and Adjustable Rate Mortgages. They have been having fun for 5 years, and now are getting hit with high monthly payments, and in addition have little or no equity in their home. They are having trouble selling for a decent price.


You have got nothing to lose and nothing to prove, and want to find a legal and easy way to walk away from this lousy investment. It really wasn't so bad, because they got to live in or rent out a house in many cases for 5 years or so, and now it is the end of the line. This is advice from my friends at http://www.youwalkaway.com and they mean business.

Collapse Continues at AIG

With the collapse continuing, the expenses are mounting. The news from Yahoo is that another $40 billion has been expended in the bailout of AIG insurance company. This money is then disappearing in the black hole of the Cayman Islands centered, no tax paying derivative credit swap market. Other derivatives may be involved as well. The real question is when is the system finally going to be put into bankruptcy and this foolish bailout game ended? Derivates don't exist, and can be legally made to not exist anymore, to be illegal, and to go away. Of course, the real estate, the mortgages are going south as well at a fast speed.

Real Estate Riot, Call the Police

If your neighborhood is being hit by a wave of real estate mortgage foreclosures, you may be close to a riot level. You may need those sexy manly, and fit women cops, wearing their5.11 Tactical Pants. Hey, cops can be sexy too. With the level of foreclosures hitting, it may be a mass strike, especially after the election of Mr. Obama.

These "cop" pants are marked down. For only $49.95 you can get, with free shipping, flannel lined tactical pants, from tactical pants usa. They also have uniforms, hats, gloves and vests at this too cool police uniform and wear site. Call the SWAT team over now.

Made $100 Blogging - in a Year

Yes, I made about $100 blogging, but it took about a year. Whether it has to take that long or not, I don't really know. However, Dragon Blogger says that he did much better, making $50 in a month. I hope you can do as well, otherwise the blogging financial bubble, in terms of real results, is a lot worth than even the real estate bubble. I checked out Dragon Blogger's post and he has some interesting things on his blog, including a guide to use Twitter. Also, of note, is that if I include my sponsored posts, I probably have made about $50 in blogging on this blog too. Now if only the whole freaking financial system would not disintegrate. But that is inevitable. It can' be put back together, you can only create a new system, with the help of some advice at larouchepac. Check it out bros and sises.

Selling Real Estate got Easier

Selling Real estate just got alot easier, with your new website. That is what you want, and baby I got it. This is the free website to develop for you at Pink Paper and it is a lot of fun. You can upload the pictures of your houses for sale, put some links in and before you know it, you could be drawing lots of business.

Now if we could only get real estate back to reality. This bubble is going to have to be drawn down, that is an action that only the Congress and the Federal Government. I hope they do it soon, freeze some unpayable mortgages, keep the families inside. In the end it is better to keep the market up, by keeping people in their homes, than having a lot of crap and people dumped out on the street.

Crime and the Credit Swap Derivatives

The Credit Swap Derivatives, a form of insurance policy for bonds and other investments, is coming under the microscope for fraud. This is in the wake of the collapse of AIG insurance co., and its bailout by $120 billion or more by the US Government. AIG is being investigated, along with CDSs (Credit Derivatives Swaps) in general by the NY State Attorney General and federal prosecutors as well. On question being asked is if somehow the market was manipulated to drive down stock prices.

The cost of this protection, is called the "spread." At least I think so. Anyway, the spread got pretty bad on Lehman Bros bonds at a certain point before they went into bankruptcy, and were sold/given to Barclays Securities. One source said recently that Lehman Bros bonds are now going for 6-cents on the dollar. The situation has also deteriorated for the bonds, the debt, etc of Morgan Stanley and Goldman Sachs, though both of those companies are still in business under their own name.


According to the New York Times, Oct 20th:

"Collaborations between the New York attorney general, Andrew M. Cuomo, and the United States attorney in Manhattan, Michael J. Garcia, are not frequent, legal experts say. That suggests the two men believe the case is too big and significant to pursue independently. Representatives for both men confirmed their effort on Friday. The Securities and Exchange Commission is also looking into credit-default swaps."

When the swap prices went up, that helped make money for the people doing short selling. Then the question becomes, was there "manipulation." It seems that there is manipulation in this crap by definition. To force everyone to buy CDS over the last 15 years and then watch it crash is part of the game. Time to zero out and outlaw all of these speculative transactions called financial derivatives.

Ooh, oh, the fuzz are looking at the Depository Trust Clearing Corporation, Markit, and Bloomberg, the makers of the "Bloomberg Machine."

Nice to Choose Thinking , but it's Bigger

Nice idea at http://choosethinking.com/, but it's bigger than that now. We in the USA, and elsewhere need Lyndon Larouche's Homeowner and Bank Protection Act. The owner occupants should continue to make reasonable rental payments to the banks. These payments can be applied to their new mortgages later. The home prices should be allowed to continue to go down for a few years, till they settle down to a reasonable level. There is no reason to spend even $50 billion nationally to help satisfy and subsidize a bubble. Anyway, the derivative market will still be out there in the Cayman Islands, and other tax havens, to try to suck up money and create a new bubble, unless you let the bubble go bye bye.

Paulson's Gone Nuts, Wants to Bailout Hedge Funds

Paulson wants to bailout things, and creatures such as investment banks, insurers and hedge funds.
“I don't wish to spread alarm on the line people but the big issue confronting the market is I'm afraid the health and sustainability of Morgan Stanley (NYSE:MS - News) and Goldman Sachs (NYSE: gs)," Hugh Hendry, Partner and CIO at Eclectica said "It is unimaginable that they can be allowed to go, I suspect that they will be nationalized at some point today or over the weekend,"

This is so insane, that it may be necessary to throw Paulson, Bernancke and Bush into the loony bin as soon as possible, and for their own safety.

They don't seem to have the authority to do this crap. Better to cancel all of the derivative contracts, and shut down the global casino. These are the derivative side bets of bonds, stocks, currency exchanges, home mortgages, real estate, etc. How about listening to Lyndon LaRouche instead.

Austin Texas Foreclosure Action

Austin Texas Foreclosures action can be the time to earn some money. After all, a house in a reasonable neighborhood is not going to go down to zero value, it is going to continue to be worth something. Many banks have an REO department- which stands for "Real Estate Owned." These banks want to get some cash and get out of the housing market, so discounts off market prices are widespread. Check it out at Century21 Ripley.

There's enough Austin real estate to satisfy your investment appetite, at prices that you can afford. The chances of making 5-10-percent or much more, if you are patient, on your investment are good, either as a sale or a rental. Many people are renting for now, and moving to sell after things in the housing market settle down. An Austin Foreclosure could be your dream investment, even in these times of economic hardship.

Austin Texas, the capital of Texas is still a leading "live music" and club city, as well as the heart of a high-tech, computer job zone. So, you should feel confident in trying some of this Austin real estate It is a favorite city of a wide variety of personality types who have coined the slogan "Keep Austin Weird." Still, remember, that a city like Austin and Austin Texas Foreclosures are still deep in the heart of Texas.

The 7,000 Billion Bailout Plan

It seems the 700 billion dollar bailout plan has not made much of a dent in bailing out the financial sector, or getting the stock market to go up. How about a 7,000 billion bailout plan, or a 70,000 billion bailout plan. The sky is the limit if you want to bailout the derivative markets, the one's where AIG insurance lost all of its 80 billion, or whatever.

Or how about listening to LaRouche, and first going with the Homeowner and Bank Protection Act. Freeze the mortgages and mortgage-backed securities. Keep the banks capitalized by having reasonable rental payments on houses with unpayable mortgages. Then let's issue new credit at low interest rates for large infrastructure projects- that is maglev trains, roads, bridges, lots of rail, this highway society is just one big traffic game. Have a New Bretton Woods Conference about having stable parities between the major currencies. Maastricht in Europe is dead, France's President Sarkozy is looking for a way out, and so are sane Americans.