According to an AP report in The New York Times:

ANCHORAGE, Alaska (AP) — Records show that Sarah Palin has not paid any property taxes on cabins that have been built on two backcountry plots partially owned by the former Alaska governor.

Read more on Yisroel Pensack: Is Sarah Palin a Follower of American Economist Henry George?…

There's one part of the commercial real estate market that is hot — court-appointed caretakers.

They are seeing business boom.

In every problem, there's an opportunity.

The old saw is right.

Read more on Court-Appointed Caretakers For Commercial Real Estate…

The federal government has intervened massively to hold up real estate prices and reduce foreclosures.

The result? Home prices and foreclosures have held steady for the past three months.

Now the FHA is tightening lending standards. Interest rates are edging up. The Fed's massive purchasing of mortgage-backed securities is coming to an end.

Read more on Can The Housing Market Stand On Its Own Two Feet?…

Commercial real estate will be the next shoe to drop.

That's the cliche we've been hearing for more than a year.

Vacancy rates at office buildings keep going up.

The LAT says:

Read more on Office Buildings Have High Vacancy Rates…

The increase is so small that economists wonder about its significance.

With high unemployment, who can afford to buy a new home? Not many people — compared to past years — can handle mortgage payments now.

Read more on Home Prices Increased In November…

The housing market remains weak despite trillions of dollars of government intervention.

How much lower would home values go if the government just left the market alone?

There are substantial tax incentives to buy homes.

Read more on Home Sales Plunge In December…

The proponent of a constitutional amendment that would overhaul California's tax system by abolishing or reducing taxes on earned incomes, commerce and industry has received authorization from state officials to solicit signatures needed to place the measure on next November's statewide ballot.

Read more on Yisroel Pensack: Ballot Measure to Overhaul California's Tax System Receives Clearance to Collect Voter Petition Signatures…

California Assembly Bill 338 (TIF for TOD) was vetoed by Gov. Arnold Schwarzenegger on Oct. 11.

"This bill would eliminate voter approval requirements for the creation of an Infrastructure Financing District (IFD) and the issuance of tax allocation bonds by an IFD," the governor said in his veto message.

Read more on Yisroel Pensack: Tax-Increment Financing for Transit Vetoed by Gov. Schwarzenegger…

Analysts were expecting an increase.

The building industry remains devastated. It is down about 30% from Oct. 2008.

Congress is subsidizing the purchase of new homes for a primary residence with generous tax credits.

Read more on Housing Starts Down 10.6% Last Month…

With a tax credit for new home purchases (as a primary residence) thought to be expiring, a lot more homes were purchased in September than expected.

The housing market has held steady for about four months. This is one of the first signs of a housing rebound.

Read more on Home Sales Rise 10% In September…