Free Republic

Billionaire real estate investor Barry Sternlicht said he believes the economy is "braking hard" and that the continuation of rate hikes is likely to cause a "major crash" in housing. “The economy is braking hard,” the chairman and CEO of Starwood Capital Group said on CNBC earlier on Thursday. “If the Fed keeps this up they are going to have a serious recession and people will lose their jobs." "You are going to have a major crash in the housing market and housing prices are going down," Sternlicht said. "You are seeing housing prices correct."

Edra Denise Blixseth, age 55, is tiny, barely 5 feet 3, but she is at the center of a huge financial mess. According to personal bankruptcy papers her lawyer filed in March, she owes $500 million to $1 billion and has assets of barely half that, almost none of them liquid. Earlier this month, the court approved the sale of one of her most prized possessions - the private ski resort in Big Sky, Mont., known as the Yellowstone Club - to the private-equity firm of one of its members for $115 million. Just a year ago, that same buyer,...

It’s not often when you see a Democratic presidential donor actually concede on live television that America really doesn’t want anything to do with leftist politics. During the November 4 edition of CNBC’s Squawk Box, CNBC co-anchor Andrew Ross Sorkin questioned Starwood Capital Group Chairman and CEO Barry Sternlicht regarding exit polls allegedly showing that Americans favored leftist policies: “[A]re you surprised that some of the polls on the way out — when they asked Americans about things like, you know, a government-controlled healthcare — that a majority of Americans said they were in favor of things like that?” Sorkin...

A string of moving trucks was spotted in Manhattan’s Upper West Side on Saturday, according to Guardian Angels founder Curtis Sliwa. “The mass evacuation of Upper West Siders from NYC is in full effect,” he told the New York Post. Sliwa blamed the city’s decision to house hundreds of homeless people in the neighborhood’s hotels for the exodus. “The moment I walked out on my block, near Central Park West, there was a moving truck. I asked where you going, and they said, ‘Virginia.’ They told me, ‘Curtis, first the pandemic hit us and now the quality of life is...