Cleveland fans are angry and still in denial, while South Florida is jumping for joy and celebrating the region's king catalyst for the housing market turnaround. On the evening of July 8th, LeBron James officially placed a catalyst for a potential bottom on the fledgling South Florida condo and housing market. Season tickets at American Airlines were already sold out in anticipation of the King James arrival to the city of Miami. In the words of Minyanville's Todd Harrison today, "Inspiration is a beautiful thing."

Nobody could be more excited and inspired with the King James confidence booster than the following employees of these six companies:

Continue reading Six Miami Companies Heating Up with LeBron James

Six Miami Companies Heating Up with LeBron James originally appeared on BloggingStocks on Fri, 09 Jul 2010 15:30:00 EST. Please see our terms for use of feeds.

Continue reading Citigroup cutting back on retail outlets

Citigroup cutting back on retail outlets originally appeared on BloggingStocks on Thu, 24 Sep 2009 09:00:00 EST. Please see our terms for use of feeds.

The McClatchy Company (NYSE: MNI) has watched its stock price tank from a 52-week high of more than $15 to its current price of $2.20 as the company's massive debt load has been made more ominous by the precipitous decline in advertising brought on by the weak economy -- on top of all the other problems facing newspapers. In 2005, the stock traded at better than $75 per share.

So now McClatchy is looking to sell the Miami Herald, according to The New York Times. But the Times added that its sources "said they knew of no serious offers for the paper, reflecting the evaporation of major investors' interest in buying newspapers."

Shocking! I can't believe that people aren't lining up to buy a newspaper that makes its money by selling advertising in one of the cities hardest hit by falling real estate prices.

You really have to question the intelligence of the company's board of directors and management: The company has paid out enormous dividends while acquiring companies like Knight Ridder at outrageous prices. Now they're looking to dump one of their most prestigious properties at a fire-sale price. And yet the dividend remains.

It's time for the dividend to go, along with everyone who's had anything to do with the company's strategic direction. It might be too late to salvage shareholder value, but they should at least find someone who knows what he's doing to give it a try.

No buyers for the Miami Herald? Shocking! originally appeared on BloggingStocks on Sun, 07 Dec 2008 17:10:00 EST. Please see our terms for use of feeds.

If you live in Philadelphia's Society Hill, Atlanta's Grant Park, or Dallas's University Park, (and if you're the type who doesn't pay much attention to what's going on in the world), you might be tempted to ask, "Housing slump? What housing slump?"

That's because you live in one of the most lucrative neighborhoods in the U.S., as listed by Forbes. Neighborhoods in 15 major metropolitan areas made the list because they experienced the greatest increase in home sales prices since 1990 -- between 300% and 4,000%. Many were downtrodden areas that benefited from an influx of development. A few others were already among the most upscale neighborhoods in the nation, and have thus far resisted the recent housing slump. For example:

• Bucking the Florida real estate downturn is Miami Beach's City Center, with its mega-mansions with built-on docks. The 2006 median home sales price was $1.64 million, up 1,532% since 1990.
• Chicago's Wicker Park benefited from an influx of young urban professionals and rehabbers. The 2006 median home sales price was $575,525, an increase of 1,870%.
• San Francisco's Western Addition neighborhood is among the fastest growing in U.S. The 2006 median home sales price was $1.38 million, an increase of 522% since 1990.
• New York's uptown neighborhood around 149th Street and Riverside drive features large brownstones and federal townhouses. Its 2006 median home sales price was $774,708, up 4,391%.

See the article at Forbes.com for the complete list.

Forbes: The most lucrative neighborhoods originally appeared on BloggingStocks on Sun, 20 Jan 2008 08:40:00 EST. Please see our terms for use of feeds.

Miami condo prices down 50%? originally appeared on BloggingStocks on Wed, 26 Sep 2007 18:00:00 EST. Please see our terms for use of feeds.

Continue reading A little relief at the pump

A little relief at the pump originally appeared on BloggingStocks on Tue, 12 Jun 2007 14:50:00 EST. Please see our terms for use of feeds.

When I logged onto Amazon.com to check out the new releases in business books, this headline jumped off the page: Real Estate Sale: Save up to 39%.

The headline was followed by this: Whether you're a real estate professional or a first-time home buyer, find all the guides you'll need for becoming a landlord, finding a mortgage, selling properties, and investing in one of the most time-tested and popular strategies for building wealth, all at up to 39% off for a limited time.

Among the deals:

• Flipping Properties: Generate Instant Cash Profits in Real Estate, which is 33% off.
• How to Be a Quick-Turn Real Estate Millionaire, which is 35% off.
• Investing in Duplexes, Triplexes, and Quads, which is 35% off.
• Why We Want You to Be Rich, which is 37% off (this book would be a ripoff at 99% off, in my opinion).

Granted, most books are on sale at Amazon (NASDAQ:AMZN). That's why I love it. But it does seem a bit unusual that they're advertising especially deep discounts on real estate books. One possible conclusion: people aren't buying them. If we go with the theory that the bull market in real estate was in fact a speculative bubble, this makes sense.

Continue reading Amazon.com points to end of real estate bubble?

Amazon.com points to end of real estate bubble? originally appeared on BloggingStocks on Sat, 17 Mar 2007 18:40:00 EST. Please see our terms for use of feeds.