Bernanke

According to the above article, signs of recovery are starting to show!

Is this the same Bernanke who said "Subprime is Contained"? Silly investors. They are so stupud.

The_President

Although I do not consider Bernanke to be God, I do feel that confidence is a key factor, needed in order for the free market to start recovering from this terrible downturn!

yep... confidence... can't pay bill with confidence... but it's a start... maybe Bernie can create a confidence meter and start lending based on how "confident" you are... say $1MM for very confident, $2MM for SteveF confident and $5MM for jsmitty confident.

w67thstreet

Haaaa! Very funny! good that you at least kept your sense of humor....in those hard economic times, you sure have what it takes!

keep looking in the rear view mirror guys and dont come screaming if you ram into a tree later on! Why no discussion on the serious concern Ben clearly had today on CRE! A fed chief raising such a clear concern, is sobering. How many times did he cover up the severity of the housing boom, credit boom, and bubble in 2005-2007?

http://www.bloomberg.com/apps/news?pid=20601087&sid=a2mAhkgbWDXc

%u201CAs the recession%u2019s gotten worse in the last six months or so, we%u2019re seeing increased vacancy, declining rents, falling prices -- and so, more pressure on commercial real estate,%u201D Bernanke said yesterday. %u201CWe are somewhat concerned about that sector and are paying very close attention to it. We%u2019re taking the steps that we can through the banking system and through the securitization markets to try to address it.%u201D

One of the main issues for the industry is that the market for debt backed by commercial mortgages %u201Chas completely shut down,%u201D the Fed chief said yesterday.

hmm, sorry for those weird characters. let me repeat the paste:

“As the recession’s gotten worse in the last six months or so, we’re seeing increased vacancy, declining rents, falling prices -- and so, more pressure on commercial real estate,” Bernanke said yesterday. “We are somewhat concerned about that sector and are paying very close attention to it. We’re taking the steps that we can through the banking system and through the securitization markets to try to address it.”

One of the main issues for the industry is that the market for debt backed by commercial mortgages “has completely shut down,” the Fed chief said yesterday.

UD, what are you trying to look into the future for the perma-bullz here? It didn't help the lemmings in 2006/2007 when they kept tripling down on NYC RE.... keep mum... look for distressed assets and set up a fund... It's much more fun when 100 brokers send you listings day in and day out, then doing open houses. Believe, me the tide is a turning.... it'll be riches untold when this thing is thru in NYC....

Till then, get more popcorn.

ha, mums the word

As someone following the real estate news closely, for some time now and listening to the fed cheif developers, and my ears to the ground, it will take some time till forclosures, commercial loans due and unemployment to fight its way through!

but it seems to me that this crisis is closer to taking a turn to slow recovery!

Damn! why won't think just bottom out already so I could buy an apt and stop looking around for apts!! urrrrrg.

Here is the question...

When does the law of "unintended consequences" kick in?

No one seriously thinks the Gov't can do all this bailing out and not have any ramifications from it...

Sure we all know what they are (deficit, inflation, etc), but how does this not have "double dip" painted all over it....

Hint: See Aug 15th.....when the revised Obama budget comes out (which was suppose to be this week) and shows all hell is breaking loose

If only I had a crystal Ball...!

Urbandigs:

How is this for the pessimists out there!

http://www.crainsnewyork.com/article/20090708/SMALLBIZ/907089988/1072

garelj - that is a great question. Its probably like trying to time when one should sell into this rally in equities - I wish I knew too!

Bernanke Says Commercial Property May Pose Risk for Economy !!!

http://www.bloomberg.com/apps/news?pid=20601206&sid=a2mAhkgbWDXc