Half of Commercial Mortgages Will Be Underwater!

[Parsad]

According to Elizabeth Warren, Chairperson for the TARP Congressional Oversight Committee, half of commercial mortgages outstanding will be underwater by the end of 2010.  Cheers!

 

http://www.cnbc.com/id/36085517

[collegeinvestor]

Why are you cheering to that haha? :-* :)

[Guest Bronco]

I am cheering it.  Let's see if it plays out, and who capitalizes.  Any fans of BAM on this board?

 

 

[Myth465]

I like BAM but think its too complicated and not too cheap.

 

My money is on FUR, Loews, this is good news for anyone with cash. 50% is crazy though.

[Guest Bronco]

Myth - tell me about FUR.  I don't know anything about it, other than I just checked their balance sheet and it looks great. 

[Rabbitisrich]

In the context of commercial RE, does it scare anyone that the savings rate is going down?

 

http://www.bea.gov/newsreleases/national/pi/pinewsrelease.htm

[Myth465]

Here is a good place to start on FUR - I posted my valuation of FUR in the trade - http://cornerofberkshireandfairfax.ca/forum/index.php?topic=2022.0

 

This thread also has some good info - http://cornerofberkshireandfairfax.ca/forum/index.php?topic=1296.0

 

Let me know if you have any other questions on FUR. Its not the value it used to be, but I see it like FFH and Loews. Good long term values which still have a discount.

[Guest Bronco]

Myth - thanks.