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Record Profits

Let’s all note today’s news about corporate profits: they hit an all time record by reaching an annual rate of $1.659 trillion. Clearly business is not hurting. This record setting pace comes in large part from the increase in productivity businesses have wrung from their operations. They have learned over the past two years to […]

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Foreclosure Mess – Update

Given this morning’s disappointing report of existing home sales it is worth recalling that one factor weighing down heavily on real estate is the ongoing foreclosure mess. By this I mean the growing chaos within the foreclosure process, and the steady and increasing stream of revelations that indicate that the banks have a slew of […]

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GDP and Housing: Better and Worse

More mixed messages. Today’s release of the revised GDP figures for the third quarter was better than expected, whereas the report on sales of existing homes continued to disappoint. Add in yesterday’s hints that the Fed is in the process of downgrading its views for growth in 2011 and we end up with a decidedly […]

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