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2 mil will also get you Hope Ranch, as well as (for you surfers out there) "the ranch", as well as Corona del Mar. You might even be able to swing Rincon.

Lennar got a bump. Try one of the short indexes for financials, and housing.

Look at the other housing and financial stocks that were dragged up on the news. That could be your short opportunity, especially with the AMEX news likely to drag financials back down.

I also wouldn't be surprised if B of A has a partner in this. Very clearly, the servicing business, and access to the customers, is worth a lot of money. But my guess is that B of A will not want some of the other assets (REO's, delinquent notes), and they will want some cash, so I would not...

Typically a 30 percent premium over a fair stock price is about right. If you believe 5 1/4 is a fair price based on the information in the disclosures, and how the street reacted to the information, then 6 7/8 should be about right. However, CFC is in no position to command a premium, as it...

Peter, I stayed in Churt (near Farnham).

Blackacre, You may also want to look at the New Otani in Waikiki. It is out past Kapeolani Park at diamond head, so it's not in the husle and bustle. The beach there is well protected, very quiet, and you have the advantage of Honolulu if the kids get cabin fever and you need to distract...

I also used to live in Pasadena, and on rainy days my wife and I were regular customers of Lucky Baldwin's.

When my wife and I flew into New Zealand for our honeymoon several years ago, we arrived in Christchurch on December 25th. We were staying at Warners Hotel, and we were tired and hungry when we got there in the afternoon, and since it was their summer, it was pretty warm. The Kiwi's (and much...

Blackacre, I spent the month of July '92 in Surrey, which is just outside of London. It was a great trip. Wimbledon was going on (Agassi won that year) and the Olympics were happening in Barcelona. I took great trips into London, Portsmouth, Windsor and Chichester. The history there is...

Most cogent and succinct analysis so far.

The wife and I looked at the Society Islands (Tahiti, Bora Bora, and Mo'orea) for New Years, and the price did scare us off.

The wife and I honeymooned in New Zealand. We flew into Christchurch on Christmas Day 2004 (which is their summer). We had a hotel for the first night, a rental car, a voucher for a flight to the North Island, and a flight home from Auckland 19 days later. We made up the rest as we went...

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Bishie, You used inventory at a fixed point in time, divided by closed sales over a one month cycle. You forgot to factor in new listing on the market for that 30 day period. The formula for net absorption should be Closed Sales (30 days) less New Listings (30 days). The formula for...

If it's all they got, it's all they got.

Why would they call? Beacause all of those HELOC's are secondary and tertiary debt on homes that are worth less than the total debt load against the house. If they do not act, they will have little practical recourse once the first lein forecloses.

The 9/25/07 date is the Trustee Sale date.

I don't know what's worse: you posting this late on a Saturday night, or me reading it that same night. I always did like Safire, though. Their are lots of writers who can write in complete sentences, but not too many that can write in complete paragraphs.

This isn't about keeping people in their homes. or the housing market. That is not the Treasury Department's job. This is about preventing a run on US financial institutions, and maintaining market confidence that the Treasury isn't blind to problems. Downside: Higher interest...