More Foreclosures Ahead

Lou Barnes in the Inman News reported that “Oppenheimer says that global debt underwriting has fallen 55 percent since July (a $2 trillion strangle). In the first quarter, global bond and stock underwriting combined fell 45 percent; issuance of mortgage-backed securities dropped 82 percent; and non-rated “junk” bonds tanked 88 percent. For those who still buy the Wall Street line that this is all about housing, note that new issuance of state and local student-loan securities, a $330 billion market, in the first quarter fell all the way. Zero.” In my opinion, this distressing news probably means there’s more foreclosures ahead.

About Michael Stark

Licensed in both Nevada and California, Michael specializes in commercial, industrial, triple net, and residential income property sales. Since 1996, Michael’s specialty has been as a buyer’s broker and tenant's broker. Michael is best known for his custom tailored service helping 1031 investors find replacement properties. Another core specialty is helping sellers market and maximize the return on their property. From 2010 to 2020, Michael served as the Program Chairman of RIAOC (Realty Investment Association of California) booking over 400 speakers. Michael also served as a board member of the Newport Beach Association of Realtors MLS Committee. NV Broker Salesperson License #0146705, CA Broker License #01207862

By Michael Stark | April 5, 2008 | Categories: Blog, Miscellaneous |