Around the MOB: John Murphy Report
By Mitch Berg
Today’s stop? John Murphy’s , John Murphy Report, formerly The Medina Report.
Like a lot of professional blogs, JMR seems to serve its owner’s purposes. John doesn’t write too frequently (although he does do it plenty enough to meet the threshold for inclusion in this series; indeed, I’m surprised at how few “dead” blogs I’ve run into while writing this series).
I liked this bit, from last January:
Roger Lowenstein has published an excellent piece in today’s New York Times regarding strategic defaults – other wise known as walking away from your property. The Mortgage Bankers of America of course don’t want you to do that….neither does Wall Street or the Obama Administration. But when Wall Street or businesses make a bad deal, they walk or flush the company. It’s no big deal. It happens all the time.
I am seeing more and more information about strategic default. This could become a REAL problem if this starts to gain more traction. Although that said, in conversations I’ve had with others recently, the government is doing so much to try to manipulate the market from loan modifications to holding interest rates artificially low – that no one really knows what the market should actually look like.
That’s the John Murphy Blog. Among MOB blogs, he’s got location, location, location!
