H.G. Wells’ Things To Come (Movie), 1936.

In the 21st century asset securitization undergoes a change of phase. It broadens out and unifies. It ceases to be a tangle and becomes plainly one story. There is a complete confluence of corporate destinies. A vision of previously unsuspected possibilities brings an immense readjustment of ideas.

After H.G. Wells, [...]

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Both capitalism and Florida real estate (see my Spring Thawts) are out of favor. It’s time for a … fond tribute to both.

Before Anita Bryant cooed for all to “Come to the Florida Sunshine Tree,” before Walt Disney World gleamed in Mickey’s eyes, there was Henry Morrison Flagler.

He arrived in Florida from Cleveland, in 1876, [...]

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The California and Florida housing markets are as different as black and white.

That’s the view of real estate consultant John Burns, who notes that California housing markets have “less than 10 months supply” of homes for sale, while Florida is “still hugely oversupplied, with most markets currently maintaining more than 16 months of supply.”

Despite the [...]

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After Roy Lichtenstein, TIME June 21, 1968.

I wish I could take full credit for my heist of Lichtenstein’s TIME ™ cover – but I can’t.

Credit belongs to Geetesh Bhardwaj and Rajdeep Sengupta, co-authors of two disturbing St. Louis Fed working papers:

Where’s the Smoking Gun? A Study of Underwriting Standards for US Subprime Mortgages (WP 2008-36, [...]

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