China's Central Bank Eliminates Margin T…

19-01-2017 Hits:345 BoomBustBlog Reggie Middleton

China's Central Bank Eliminates Margin Trading of Bitcoin

There have been rumors that the Chinese Central Bank (PBoC - People's Bank of China) would limit or eliminate margin trading in Bitcoin. It is now official, sort of...

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Is Donald Trump Truly Successful or Born…

18-01-2017 Hits:587 BoomBustBlog Reggie Middleton

Is Donald Trump Truly Successful or Born With A Silver Spoon? An Analysis

In social media and mainstream media, I often hear Donald Trump quoted (by himself, and others) as an extremely successful, self-made man. As an entrepreneur for nearly all of my...

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As I Promised, EU Is Colliding Into Prac…

17-01-2017 Hits:949 BoomBustBlog Reggie Middleton

As I Promised, EU Is Colliding Into Practical Confines of NIRP, Bank Hemorrhaging Up Next

Nearly a year ago, I warned subscribers of consequences stemming from the ECB's negative interest rate program. Here's an exceprt from our resarch report titled European Banking Macro Issues for March...

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Is Bitcoin Too Risky? Whenever the Bitco…

12-01-2017 Hits:1585 BoomBustBlog Reggie Middleton

Is Bitcoin Too Risky? Whenever the Bitcoin is Mentioned in Financial Pop Media, Ignorance Ensues

I hate to be the one to break bad news to you, but most of the pop media/mainstream media financial pundits that I hear and see opine on bitcoin have...

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What Happens When Rates Rise While the S…

10-01-2017 Hits:1310 BoomBustBlog Reggie Middleton

What Happens When Rates Rise While the S&P 500 Relies on Cheap Credit To Boost EPS?

So, the stock market, bond market and real estate markets are all at all-time highs. Everything is Awesome! You know better than that. You see, when the bond market wakes...

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Debt Encumbered Oil, Sovereign Soil, Toi…

10-01-2017 Hits:673 BoomBustBlog Reggie Middleton

Debt Encumbered Oil, Sovereign Soil, Toil & Trouble: Can't You Hear Seems Cracking in the OPEC Empire?

@WSJ reports Libya Ramping Up Oil Production, Threatening OPEC (supposed) Plans to lift global oil place by artificially limiting supply. This would be in violation of federal antii-trust laws in the...

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Ten Years Since BoomBustBlog Was 1st Pub…

09-01-2017 Hits:996 BoomBustBlog Reggie Middleton

Ten Years Since BoomBustBlog Was 1st Published & That Initial Research Still Relevant Today

We have looked into insurance companies' performance last month in regards to our bearish real estate thesis. A small comederie of companies are suffering losses and/or declining profits as we've exected....

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The Macro Truth About The Big Bitcoin Po…

07-01-2017 Hits:1178 BoomBustBlog Reggie Middleton

Bitcoin has dropped precipitously, and as is usual, we have the cacophony of instant digital currency pundits cackling about as if they had a clue. This is the inaugural post...

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To Bust or Not To Bust: Are We In A Real…

04-01-2017 Hits:840 BoomBustBlog Reggie Middleton

To Bust or Not To Bust: Are We In A Real Estate Bubble?

Banks are showing thin NIM, yet many of the big banks are able to boast stable if not slightly improving credit metrics. This doesn’t make sense considering the explosive growth...

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What Happens To Real Asset Lending Banks…

03-01-2017 Hits:694 BoomBustBlog Reggie Middleton

What Happens To Real Asset Lending Banks When the Real Funding Rate Appears? We're About to Find Out

During the financial crisis of 2008, money market funds who subjectively agreed to hold their NAV (net asset value) unit prices at $1 “broke the buck”. That is, the unit...

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Stress Test on Banks’ Earnings Facing th…

30-06-2014 Hits:44822 BoomBustBlog Reggie Middleton

Stress Test on Banks’ Earnings Facing the Veritaseum UltraCoin Value Transaction Platform

My last post on the topic of disintermediation during a paradigm shift was Wall Street Should Be First To Invest In Reggie Middleton's UltraCoin, Much Of It Won't Be Here In...

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Introducing the "Unbreakable Promis…

09-06-2014 Hits:39599 BoomBustBlog Reggie Middleton

Introducing the "Unbreakable Promise" As a Method Increasing Efficiencies and Decreasing Risk

Continuing on the margin compression theme originally laid out in Margin Compression Is Coming in the Payment Processing Space As $100 Million Pours Into Startups, I illustrate mathematically how the bit...

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City launches program to turn foreclosures into affordable homes
In response to the glut of unsold condominiums and stalled residential construction sites, this week city officials announced a $20 million pilot program which will turn vacant buildings into as many as 400 affordable housing units for low- to middle-income families. Funding for the Housing Asset Renewal Program, which the city hopes will prevent neighborhoods from deteriorating as more buildings are left vacant, will come from the City Council and the Department of Housing Preservation and Development. A notice of funding availability will be distributed to banks and developers in mid-July and projects will be selected based on who offers the steepest discounts and where the abandoned homes are located.  [Crain's]

For those who haven't seen my pics and videos, please reference Who are ya gonna believe, the pundits or your lying eyes?, Who are you going to believe, the pundits or your lying eyes, part 2  and A Micro View of the Macro Damage to be Caused by Imploding Commercial Real Estate  for a grassroot view of what's going on in NYC. There is a massive wave of BIG losses coming the way of banks and lenders in the NYC metro are this year and next - all stemming from the condo crisis.

 

NYC sales price down 22 percent, REBNY report says
The average sales price of a home in New York City sank 22 percent to $644,000 in the second quarter of 2009 from $824,000 at the same time last year, according to a report released this week by ResidentialNYC.com, the real estate listings Web site maintained by the Real Estate Board of New York. The report, which tracks data about co-ops, condos and one- to three-family homes in all five boroughs from the city's Department of Finance, found that the number of home sales in the city dropped 35 percent to 7,194 from 11,008 in the second quarter last year, while in Manhattan, sales plummeted 47 percent to 1,788 from 3,348 in the prior-year quarter. Second-quarter reports released by city brokerages last Thursday showed a more dramatic drop in sales - a decline of at least half from the second quarter of 2008. the Real Deal

New rental report shows 60% drop in volume
Residential brokerage Prudential Douglas Elliman this week released its first-ever quarterly rental Manhattan market report, revealing an eye-popping 58.3 percent drop in rental transactions from last year as waves of unemployment battered the city. The report, which tracked data about the rental market that has never before been published, determined that 2,346 apartments were rented in the second quarter of 2009, down from 5,624 during the same quarter of 2008. That drop coincided with a 17.5 percent decrease in the average rental price per square foot to $44.16, from $53.50 in the prior-year quarter. Meanwhile, the number of rental listings swelled by nearly a third to 7,290 from 5,658 in second-quarter 2008. Though the rental market has been widely believed to be healthier than the sales market, the results largely mirrored the slowdown shown in recent sales reports, said Jonathan Miller, the president of real estate appraisal firm Miller Samuel, who prepared the report.  By Candace Taylor

Shaq's Star Island sale may set price floor
From the South Florida Web site:
The recent revelation that basketball star Shaquille O'Neal finally sold his mega-manse on swanky Star Island for $16 million - a substantial discount from the $35 million he once sought - might not thrill his neighbors. They include Rosie O'Donnell, Gloria Estefan, Sean "P. Diddy" Combs, Lenny Kravitz and billionaire Phillip Frost, and it's a safe bet none would welcome being added to the list of celebrity poster children for the luxury housing crunch. The sale price of $16 million is a mind-numbing drop of 54 percent from his original list price in 2005 of $35 million.  By Sally Apgar