PMI Mortgage Insurance recently posted several videos on YouTube as part of the company's new foreclosure prevention effort. Yet despite the seemingly laudable intent, Inman News points to the $1.27 billion in losses PMI posted in the last two quarters as evidence that self-preservation is unquestionably another motive at play. For that story and more, check out Big Builder's bi-weekly roundup of the latest in opinion and commentary across the Web.
Dr. Housing Bubble likens the credit crisis to a grandmother locked in the attic and cautions that when we finally open the door to deal with the situation, there will be hell to pay.
Reggie Middleton's Boom Bust takes on Lehman Brothers as it hit up the capital markets--twice--as well as the Fed to obtain capital with the supposed aim of "prov[ing] to the market that it has liquidity" and for "testing purposes only." However, these funds were then used to purchase company stock.
A more effective way to keep borrowers at risk of default in their homes, according to Seeking Alpha, would be for the Senate to adopt a plan similar to that proposed by F.D.I.C. Head Sheila Blair, which reduces mortgage payments through a temporary rate freeze, rather than calling on lenders to reduce the principal balance on these at-risk loans.
The Wall Street Journal reports on the recent approval of Lennar's proposed 770-acre mixed-use development in San Francisco. Company officials report that financing for the first big phase of the project will take place in 2010.
Builders nationwide may still be asking the age-old question, "Are we there yet?" However, The Housing Bubble thinks Las Vegas has found the bottom.
BusinessWeek's Hot Property announces Brad Pitt's involvement in the design of an 800-room luxury hotel and resort in Dubai--complete with a link to a video of Pitt discussing his love of architecture on Charley Rose.