Guido, after all the disappointing court cases, maybe a decent offer and a reminder that a bird in the hand is better than two in the bush is what will drive a deal. That’s how a lot of compromises are done. At today’s high equity market levels, there’s enough “bird in the hand” to go around for all, if the parties on both sides drop all their pretenses and bargain vigorously but in good faith. 20.1% of something is better than 0% of nothing. Someone has to make a first move and my hunch is that those capable of doing so recognize how ephemeral and fleeting the current moment is. Housing is such an important make-it-or-break-it objective for the Biden Admin. A resolution here improves their prospects for achieving their goals. Tim Howard wouldn’t be mentioning that he was drawing up a release proposal for someone at a high level in the Biden Admin if there wasn’t someone over there cooking up something. I’ve followed Tim’s site for years, he’s not a B.S. type of guy. So let’s all focus on clues as to what’s cooking and see if we can figure out if indeed this is the direction this is all heading.
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