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BubbleWatch

The Newark Star Ledger takes a long look at private, unregulated real estate funds ("part community bank, part hedge fund, part Real Estate Investment Trust") and finds their beneficiaries ? small-potatoes developers ? alarmingly content with loans with mid-teens rates and mob-style terms. "The funds can come in and literally take over the business," Wharton prof Georgette Chapman Poindexter told the paper. "As a developer you can tell them they can't do that, and they'll just tell you to look at the loan papers." Seriously, though, that's almost definitely not going to happen to you. Those condos you're you're building in Jersey with the "Holland Tunnel entrance views" absolutely cannot miss. Cannot.
· Real estate investing remodeled [Star Ledger]