Here is an article about a foreclosure sale in Minneapolis, Minnesota. According to the article, there are bargains to be had, but major risks as well (think about buying your largest purchase of your life without an inspection).
Quote:
The bidding for most houses took less than three minutes. Over two days, 85 percent [...]

Here is a recent article from Slate, the online magazine, which asks: why are investors still believing the “experts” when they keep getting it wrong? The general thrust of the article is that as with every bubble — when it bursts, there are those who declare that the worst is over, even though that [...]

As has been blogged in the past, one big risk to the US economy is if the countries that have bought US debt in the past determined not to do so, or not to do so in such quanities, in the future. One reason for this move would be the continued decline in the [...]

GMAC Financial Services announced yesterday that Residential Capital LLC (GMAC’s mortgage company) would be cutting 3,000 jobs which is 25% of their workforce. It’s offices are located in Minneapolis, MN and employs 12,000 people.
The company blames the cuts on “sharp downturns in the U.S. residential real estate markets and the global dislocation of the [...]

Recall that the Federal Reserve was encouraging the U.S. banks to use their “open window” to borrow any funds they might need in this time of uncertain credit markets. Although I have never read anything about this link, I think one can argue that when the big banks made a huge investment in Countrywide [...]

Having nothing whatsoever to do with law or economics, I found an article that I thought was amusing which compared the new $124,000 R8 Audi to the $45,000 Jeep Grand Cherokee SRT8.
“One’s a slippery minx of a two-seater. The other has a 1,050-pound maximum payload, seats five and looks like it was carved by [...]

Recall that the Federal Reserve was encouraging the U.S. banks to use their “open window” to borrow any funds they might need in this time of uncertain credit markets. Although I have never read anything about this link, I think one can argue that when the big banks made a huge investment in Countrywide [...]

On Canal street in Louisiana the 1,036-room Grand Palace Hotel went on the auction block last Tuesday and was bought by Global Asset Alternatives LLC., for $7.5 million. GAA “is expected to take possession of the hotel in about one month, said Jan Hayden, an attorney for Louisiana Worship Hospitality LLC, which has owned [...]

Foxtons, A real estate company located in New Jersey will be filing for bankruptcy and closing its doors. The company has almost 400 employees and will immediately lay off 350.
“The plain fact is that we have been battling against a real estate market that recently has tuned into a sharp decline, and [...]

Assignee barred from “blowing hot and cold” in receiving benefits without adopting the burdens of an executory contract assigned to it.
The Third Circuit Court of Appeals recently considered the question as to whether a supply contract (benefitting Albertson’s) could be transferred to a third party who refused to comply with the contract’s specific terms. [...]