Today, Harvard’s Joint Center for Housing Studies released its 2010 report on the state of the American housing market. The verdict? Not good, if stable. The bottom line:
The nation has not faced housing problems of this magnitude since the Great Depression. Heavy job losses and lingering high unemployment
Good news from RealtyTrac this morning, as it reports that foreclosure filings — default notices, auctions and reposessions — fell 9 percent from March to April, evidence that the foreclosure crisis might have peaked last month.
In the good column: The number of homes receiving default notices fell 12 More…
Blogging at Naked Capitalism, Edward Harrison provides a persuasive argument for why retail sales and consumption are increasing, despite persistent joblessness and a lack of income growth. He posits that homeowners in foreclosure or struggling with mortgage payments are deciding to stop sending checks to the bank, letting their More…
It is with great fanfare that President Obama will roll out his new plan to help keep struggling homeowners from going into foreclosure. His $1.5 billion program will provide block grants to states in which housing prices have dropped 20 percent from their all-time highs. Thus, More…
Amid fears that Switzerland might come to an agreement with the United States on banking privacy and tax evasion disclosures, Credit Suisse issued a report identifying those countries it determined to have the highest risks of default on their sovereign debts. Number 16 on the list More…
On Oct. 30, 1938, the weekly radio program Mercury Theatre aired “The War of the Worlds.” As adapted from H.G. Welles’ novel and directed by Orson Welles, the effect was stunning. The broadcast’s first half was presented as a series of dramatic news bulletins about a Martian invasion. Many More…
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