The. Old. Housing. Boom. Is. Not. Coming. Back.
“I could borrow $2 billion tomorrow for 3 1/2 percent. But what am I going to do with it?” David Speer, CEO of Illinois Tool Works. Further words of wisdom from Mr. Speer: “It took us a decade to get in the ditch we are in. There isn’t going to be instant gratification to get …
The good news: The number of people facing foreclosure is nearly flat from a year ago. A third fewer people are receiving legal warnings that they could lose their homes. And foreclosures are receding in some of the hardest-hit cities. Ooops: But not in the Seattle area. Seattle bucked the national trend, with foreclosure filings in …
The scene unsettles some. Yet, as one analyst says, these are unique times. Yes, very, very unique times… Perhaps the best way to describe it is: The Wild West Rises Again. Look closely and you’ll see investors avidly searching for gold in the wreckage of the mortgage crisis and riding high astride those wild west horses. Some …