Calculated Risk Mon 2009-09-21 15:03 EDT
"We could be facing a triple whammy at the end of the year: the expiration of the tax credit, the end of the Fed mortgage-buying program and rising foreclosures.'' says housing economist Thomas Lawler
Calculated Risk; ending; Faces; Housing; triple whammy; years.
Mish's Global Economic Trend Analysis Mon 2009-09-21 14:57 EDT
An interesting report in the Los Angeles Times shows that a person with super-prime credit scores is more likely to walk away from an underwater mortgage than a person with a subprime credit rating.
Mish's Global Economic Trend Analysis; Strategic Default Data Suggests Foreclosure Prevention Tactics Useless.
Mish's Global Economic Trend Analysis Mon 2009-09-21 14:09 EDT
Inquiring minds are wondering about the possibility of "pent-up" inflation from the massive expansion money supply by the Fed...Hardly. A funny thing happened to the inflation theory: Banks aren't lending and proof can be found in excess reserves at member banks. Because of rising credit card defaults, commercial real estate defaults, foreclosures, walk-aways, and other bad debts, banks need those reserves to cover future losses...banks are insolvent, unable or unwilling to lend. Moreover, tapped out consumers are unable or unwilling to borrow.
deck; Fed Printing Waiting; Inflation; Mish's Global Economic Trend Analysis; pent.
Tue 2009-06-16 00:00 EDT
Tue 2009-02-24 00:00 EST
Why Be a Nation of Mortgage Slaves? by Ramsey Su - WSJ.com; ``allowing foreclosures...has merit as a free-market solution''
com; Mortgage Slaves; nation; WSJ.
Fri 2009-02-13 00:00 EST
by Ben Ehrenreich, The Nation
Wed 2009-02-11 00:00 EST
Calculated Risk: We're All Subprime Now! growing foreclosure crisis transcends subprime
Thu 2008-07-10 00:00 EDT
AlterNet: 'Forclosure Phil' Gramm: How John McCain's Closest Economic Advisor Helped Engineer the Mortgage Crisis; Nomi Prins and David Corn
AlterNet; Foreclosure Phil; Gramm; John McCain's Closest Economic Advisor Helped Engineer; Morgage Crisis.
Sun 2008-07-06 00:00 EDT
"The System is Broken. We're Entering a Two Economy Society": An Interview with Michael Hudson, by Mike Whitney; democracy precedes oligarchy; reframing tax policy; fraudulent conveyance applied to minimize foreclosure; "Credit is a product that's almost free to create. Its main cost of production is the lobbying expense to buy Congressional support."
broken; Economy Society; enters; interview; Michael Hudson; Systems.
Fri 2008-05-30 00:00 EDT
by David Corn; McCain economic advisor, anti-regulatory crusader, former Senator Phil Gramm helped enable subprime debacle
Sun 2008-05-18 00:00 EDT
"nventory of homes is now beyond a two year supply and growing, while prices are falling off the cliff." "at least a third of todays builders will be bankrupt within the next 18 months."largest source of inventory is the homes moving through the foreclosure process" "The snakes have moved out of the mortgage business and into the REO disposition business."
Decession; Depression; Mike Morgan; Mish's Global Economic Trend Analysis.
Sun 2008-05-18 00:00 EDT
Shiller on psychology of foreclosure
