Asset Evaluation

While national debt and rates are rising, over decades of resolving distressed real estate, I'm seeing a whole set of these currents start to converge.

I've spent my career in real estate debt and distress, so manufactured housing was never really on my radar. Then I learned a bit about the wealth it's building that caught me off guard.

Private credit didn’t grow because it was safe. It grew because the banks stepped back from risk after the global financial crisis. That capital gap had to be filled and it arrived by the trillion.

A new paper from Brian Shearer argues P&C insurance premiums are over $100 billion too expensive and raises a question every creditor should be asking.

I've spent thirty years studying the financial cycles that create exactly this kind of moment — the slow build, the visible warnings, the critical window where preparation either happens or it [...]

The debt market has a transparency problem and most investors aren't even aware they're working with incomplete data. The delinquency rate is telling a story — just not the whole one.

Today’s foreclosure trends are developing under pressure from multiple directions: higher interest rates, affordability constraints, policy interventions, and borrower fatigue.

Climate finance is steadily moving from the margins into the center of financial conversation, influencing how people think about banking, spending, investing, and institutional responsibility.

For decades, climate risk conditions were predictable enough that banks, insurers, and investors could model risk with relative confidence. But that foundation is beginning to shift.

Private credit has grown into one of the largest forces in global capital markets. And yet, beneath the surface, a more important question remains: what exactly are investors lending against?