Pulaski Bank takes one on the nose

by Matt Kastner

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The Post Dispatch is reporting that local Pulaski Bank just sold it’s shares in Fannie Mae in the wake of the government bailout for an after-tax loss of $5.2 million. Not the kind of news you want to hear when you are hoping to see some of the local boys loosen up the lending reins. Check out the story for more.

Fannie and Freddie dissolved?

by Matt Kastner

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I was doing a little more research on the new federal housing legislation after posting about it this afternoon and I ran across an interesting concept on the Cato Institute’s website: Get rid of Fannie May and Freddie Mac. Not something that had really crossed my mind, but the author makes some pretty good points. You can take a look for yourself here. I doubt it would happen, but it could work.

Federal housing bailout

by Matt Kastner

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If you’ve been living in a cave for the last year, you might be surprised to know that foreclosures are happening at a record pace in St. Louis and around the country. Obviously, this can make for some pretty great buys in the real estate market, but a lot of people and companies are hurting because of this trend. All levels of government have been talking about doing something to stop the bleeding for months, but nothing has been done. Until this past Wednesday that is. Read more

Single family investment properties

by Matt Kastner

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In March, I posted a story about duplexes suddenly becoming a viable, cash flowing, option for prospective investment real estate buyers. Four months later, I’m here to highlight the topic again. But this time, I’m not talking about two families. They are still an increasingly attractive buy, but the real surprise in the past few months has been how lucrative buying up single families has suddenly become in the St. Louis investment real estate market.

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