Ranieri, Trump Like CRE. Who Else?

Fortunes are made when fear runs high. Yesterday MBS co-inventor Lew Ranieri and renowned mortgage bottom fisher Wilbur Ross announced they are buying Deutsche Bank's multifamily lending division. On CNBC today Donald 'The Donald' Trump said he's been buying commercial properties in the U.S. for cash. Why? Answer: Because Trump sees amazing bargains in the wreckage. (He also credits the strong Washington D.C. real estate market to all the money the Obama White House has been spending and doesn't seem to think there will be a bubble in the nation's capital.) As for residential real estate, a bottom may be forming. How do I know this? Actually, I don't, but yesterday one long time residential bear – someone I have known for 20 years and whose opinion I greatly respect – told me that he thinks residential values have hit bottom and have only have one way to go. And it ain't down. He's based in SoCal…