Real Estate News and Auction

#silentdepression #privatecredit #bondmarket

In this episode I sit down with Joe Bettag and Jeff Snider @eurodollaruniversity to assess the ripples in the market from the private credit unwind to recent rises in treasury yields. Could a credit crisis be brewing? Is private credit our grey rhino? If you are unfamiliar with the concept, author Michele Wucker wrote an excellent book that argued that black swan events are never really black swans. They are typically the size of a rhino, and you can see these events coming from a mile away if you are looking. Private credit could be our grey rhino based on its exposure to not only software, but commercial real estate as well. With treasury yields moving higher, borrowing costs will not be improving and refinancing will not be an attractive option if available at all. Just know that all this extending and pretending means that we have not even started the liquidation process of these toxic assets. This thing is just getting started.

We break it down.

M3 Market Update provides a macro and micro perspective you are not finding anywhere else to give you context for the info you are receiving from mainstream media regarding the current state of housing (including long and short-term rental), commercial real estate and mortgage finance with relevant data and drivers. Not investment advice.


You can find Jeff Snider:
@eurodollaruniversity

You can find Joe Bettag, Benjamin Capital Group:
Joe specializes in distressed assets and has been through many default cycles.
www.linkedin.com/in/joe-bettag/
https://x.com/joe_bettag





General Reference & Recommendations:

1) #silentdepression - For a review of what's really been going on in the economy since 2007 to understand the path of housing: https://www.youtube.com/watch?v=dcl1RP1ziNo. Follow @emilkalinowski on Twitter or YouTube.
2) The term Eurodollar sounds kinda weird and the concepts are complicated, so I recommend going back to the very beginning where they lay it out very simply. This is a MASTER CLASS in monetary policy and the plumbing of the financial system: https://www.youtube.com/watch?v=XPlvXuDqxBc
3) And for an episode on some of the myths surrounding the Fed: https://www.youtube.com/watch?v=G2AD-0r0Vlk
4) The Fourth Turning: https://www.amazon.com/The-Fourth-Turning-audiobook/dp/B00005UPTV/ref=sr_1_1?hvadid=377825614251&hvdev=c&hvlocphy=9005974&hvnetw=g&hvqmt=e&hvrand=7239185417261577819&hvtargid=kwd-513996878352&hydadcr=7465_9611852&keywords=the+fourth+turning+neil+howe&qid=1685491236&sr=8-1
5) A Brief History of Doom: https://www.audible.com/pd/A-Brief-History-of-Doom-Audiobook/B07WP67Q3G?source_code=GPAGBSH0508140001&ipRedirectOverride=true&gclid=CjwKCAjwhdWkBhBZEiwA1ibLmG2_fihIT0EOL8FmQxsjpXK7LX77Kezt6_eR2Q-RKrv0Tzpw0UE18RoCxcQQAvD_BwE&gclsrc=aw.ds
6) Swamp Peddlers - https://www.amazon.com/Swamp-Peddlers-Scammers-Retirees-Transformed/dp/B096CJ9SW1/ref=sr_1_1?keywords=swamp+peddlers&qid=1696972120&sr=8-1



Please reach out to me with questions or comments:
Twitter: @m3_melody
Substack: https://m3melody.substack.com

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