Archive for the 'housing' Category
Long Emergency
In comments to Ghost Towns, Alex writes:
To most Americans, large cities are for cultural and sporting events.
Some of them may live in one for a few years after graduation, then
they’re planning to spawn in the burbs.
They’ll go bankrupt before they move into the cities.
He’s probably right: the comment reminded of something Kunstler wrote [...]
Alan Greenspan: Lying Old Man
The New York Times article “Fed Shrugged As Subprime Crisis Spread contains an audacious bit from Alan Greenspan:
An examination of regulatory decisions shows that the Federal Reserve and other agencies waited until it was too late before trying to tame the industry’s excesses. Both the Fed and the Bush administration placed a higher priority on [...]
Guest Post: Kate (Not Your Sister) on the Housing Implosion
Kate (Not Your Sister) is a friend of mine here in Philly. I think we get along so well because we both like to rant.
Kate doesn’t blog (she should), but asked if she could submit a guest post regarding the subprime mortgage debacle and the housing collapse.
I don’t agree with everything Kate says [...]
Mortgages
The New York Times is reporting on the impending mortgage crisis: seems too many loans have defaulted, bringing down with them lenders. People have property they can’t afford to pay for, but that no one can afford to buy.
While real estate prices were rising, the market for home loans operated like a [...]
