PLUS: Eminent Domain
Our big topic for today spans a stories. Subprime lending style strategies are back and they are scary. While there are protections now that were missing before, these are the kinds of things that evolve as institutions get comfortable with them. In short, setting a bad precedent. From bank firings to HELOC defaults, we are seeing lots of instability in the lending world and lots of efforts to get more money into the hands of folks who are risky at best. All it would take is some collapse in any of the current markets and we could see yet another downturn in real estate. The worst part is that there are more points of weakness today than last time and our economy is in much worse shape than last time, so things get much worse much faster.
Then we will take a few minutes to talk about eminent domain and a plan right here in the bay area to seize private property because the county does not like what the property owners want to do with their property.
We will also be kicking off a new poll today about eminent domain. So head over to http://www.therebelbroker.com and check out the show notes and share your opinion in this weeks poll.
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