Things are looking brighter in CMBS. Market sentiment improved last week on the Lehman Brothers/UBS securitization. The top AAAs traded at Swaps + 190 bps, 35 bps inside of Citigroup’s recent deal. This could be a sign of sustained improvement, or it could be people going long to cover their short positions on the CMBX [...]
Some of these are a day or two old, but still worth browsing through if you missed them:
Retailing Chains Caught in Wave of Bankcruptcies. This reiterates my stance on retail REITs. They should underperform the rest of the sector in the coming months. The outperformers will be the Healthcare REITs. This will be the case [...]
Office vacancy rates rise, but so do rental rates?
Bloomberg loves the sun
(VNO: 99.46 -1.11%) interested in smaller Moynihan Station plan
I believe that the sentiment up-trade in Commercial Real Estate has ended. It drastically over-corrected when all the big shots came out in the news and said, “we’re being treated unfairly, we aren’t residential. Subprime is [...]
Macklowe’s buildings officially for sale. Look for these sales to price the market.
How Mortgage Scammers Make their Mark.
21 of 25 metro’s see housing price declines last year. Including 3 metros with 20%+ declines!
Futures are pointing to a lower open. However, (NTRI: 19.87 -0.65%), an old Fly favorite, is gapping higher on guidance. More trouble in [...]
One of the most talked about things in Commercial Real Estate has been the Harry Macklowe disaster. This guy, who I talked more about on this post, is fucked. His best building, the GM Building, which is on the corner of 5th Avenue and Central Park, is one of the best buildings in the world. [...]
First off, (MON: 114.25 -2.22%) will be under $100, soon.
Dolan’s bluffing on Moynihan Station?
Manhattan condo sales slow, but are still at record highs
Manhattan could be headed for housing slump
(FMN: 13.49 -0.22%) tightens standards
I have no trades planned for today. I would like to cash out of my MON puts, when MON hits 99.99 at about [...]
More on the Moynihan Station Project. This is good a time as any to put a short on (VNO: 99.46 -1.11%). Although, they are trying to revive the project.
CMBS Deliquencies rose slightly, barely above their historic lows.
Manhattan apartment sales are down.
Eggs are golden, (CALM: 39.49 -2.25%) crushed earnings. Update: Major reversal. Was at $42 in [...]
Penn Station redevelopment plan looks all but dead. More on this. Short (VNO: 99.46 -1.11%). It’s all the Dolan’s fault. Those guys are miserable. How are the Knicks doing this year?
I shorted (NLY: 14.96 -1.06%) today on the Ragin Cajun’s rec. The way (CMO: 11.74 -0.51%) is trading right now, NLY should go down soon.
(HANS: [...]
Signs of credit market easing could provide false hope
Consumer Confidence, Housing Prices both slide
That’s all I have for now. The headlines are still bearish.
More later…
I feel like I haven’t seen a less than 100 point up/down day in a long time. Kind of refreshing.
I got crushed on (MON: 114.25 -2.22%) today, but didn’t blow out of the position like I had planned early in the morning. I made some money back by buying (UYM: 76.12 -2.37%) @ $78.50 and selling at $81.50. [...]
