The Washington Independent

Posts Tagged housing bubble

Obama wants FDIC Board leadership position to go to Federal Reserve heavyweight

By | 10.21.11 | 11:29 am | More from The Iowa Independent

The White House announced Friday that it will nominate Thomas M. Hoenig, a native of Fort Madison, to the position of vice-chairman of the board of directors for the Federal Deposit Insurance Corporation.


Tom Hoenig

Hoenig, the son of a local plumber and a graduate of St. Benedict’s More…

Housing market continues to tank as unemployment rises

By | 05.09.11 | 6:05 pm

Despite assurances from government officials that the recession is gradually loosening its grip on the U.S., statistics released today by Zillow, Inc. paint a very different picture. Zillow is a real estate marketing site founded by former Microsoft executives that maintains a database of real estate information from around More…

Housing Starts Jump Unexpectedly

By | 09.21.10 | 10:53 am

Some good news for the housing market: Building starts on new homes climbed 10.5 percent in August, the Census Bureau announced this morning. Construction ramped up to an annualized pace of 598,000 homes, the highest rate since early spring. Economists had expected starts to decline slightly. More…

Hindsight on Risky Mortgage Products

By | 09.13.10 | 9:59 am

Guess who wrote this and when:

“We are sitting on a time bomb,” the mortgage analyst said — a huge increase in unconventional home loans like balloon mortgages taken out by consumers who cannot qualify for regular mortgages. The high payments, he continued, “are just beginning to come due and


Bernanke on the Housing Bubble

By | 09.02.10 | 6:01 pm

Today, Ben Bernanke, the head of the Federal Reserve, testified before the Financial Crisis Inquiry Commission on Too Big to Fail banks and the general financial collapse. (Find Bernanke’s prepared testimony in a PDF here.) But he is getting the most attention for a comment on housing, where he More…

HAMP Continues to Produce Lackluster Results

By | 08.20.10 | 3:05 pm

Today, the Treasury Department revealed yet another scorecard for the Home Affordable Modification Program — the administration’s signature effort to stop the foreclosure crisis — showing dreary results. Here’s a good chart from Daniel Indiviglio at The Atlantic:

How to Rent Lots of Homes

By | 08.19.10 | 5:47 pm

Felix Salmon links to a post by Barbara Kiviat asking: If the government wants to build more incentives for affordable rentals, and more and more people will need to live in rentals since the housing bust, who is going to rent out all those houses?

The Benefits of Rental Housing

By | 08.18.10 | 10:46 am

Another principle most participants in the “Future of Housing Finance” Treasury Department conference agreed on: The country needs more, better rental housing. But what kind of rental housing? In Newsweek, Alyssa Katz writes about a federal voucher program for low-income families. The families can use the vouchers in any More…

Treasury Announces Participants for Housing Conference

By | 08.13.10 | 5:22 pm

Next week, the Treasury Department is holding a conference on the future of housing finance as Washington gears up to reform the government-sponsored enterprises Fannie Mae and Freddie Mac — which stabilize the housing market and whose bailout has cost $150 billion thus far — this fall. Yesterday, Treasury More…

Conyers, Kaptur Bash Fannie for Penalizing Strategic Defaulters

By | 08.13.10 | 5:12 pm

This week, Reps. John Conyers (D-Mich.) and Marcy Kaptur (D-Ohio) sent a letter to Treasury Secretary Timothy Geithner and Edward DeMarco, the head of the Federal Housing Finance Agency, asking them to justify Fannie Mae’s policy of penalizing or suing strategic defaulters — those who can pay their More…