Transcripts released by the Federal Reserve reveal the central bank misinterpreted the downswing in the housing market as a positive signal of the market pricing in risk rather than the beginning of a bust that would quickly unravel the financial markets.
|By: DSWright Friday January 18, 2013 12:34 pm|
|By: Abigail Caplovitz Field Sunday April 29, 2012 5:20 pm|
Regardless of the recent bullish stories on the housing market, housing market fundamentals are lousy. Demand in the last decade was wildly distorted by banker abandonment of underwriting and appraisals. Now bankers are worsening the crash they created. As a result, prices will just keep falling, and foreclosures cannot lead to clearing the market (regardless of what some say). Foreclosures can only make the problems worse.
|By: Scarecrow Wednesday April 25, 2012 4:57 pm|
There have been several housing-related reports this week, some better than others, so analysts have been reading the entrails to determine whether the housing market is finally starting to hit bottom and turn around. The answers are mixed — some regions are doing better than others — but we still seem to have a ways to go before the national market starts stops falling and begins to pick up in any meaningful way.
|By: David Dayen Tuesday April 3, 2012 6:15 am|
Dayen’s new’s roundup from Monday, April 2, 2012, including stories about the Affordable Care Act, President Obama, Supreme Court, Paul Ryan, student loan debt, Eurozone, State AGs, housing market, Bill Clinton, Thomas Frank, Keith Olbermann, Sarah Palin and more.
|By: Peterr Wednesday October 5, 2011 6:26 pm|
The big question for banks like Peter Orszag’s Citigroup then becomes “what do we do with all that property?” For them, these are “non-performing assets” that have value but produce no revenue and in fact will even cost them money to maintain like mowing the lawn, paying the taxes, etc. Repairs and such make them even more expensive to hold.
|By: emptywheel Tuesday September 7, 2010 2:30 pm|
I’m fairly amused by this story, presented by the NYT as “reporting.” It claims the Obama Administration has tried “just about every program it could think of to prop up the ailing housing market,” and faced with the failure of “just about every program,” economists and analysts are contemplating just letting the housing market crash. However there’s a false assertion — the Administration hasn’t tried everyting, including cramdown.
|By: masaccio Thursday September 2, 2010 2:00 pm|
In the aftermath of the Great Recession, a debate over Social Security, is heating up. This debate raises fundamental questions about what kind of society Americans wish to live in. So far, the debate has been between those deficit busters who say Social Security must be trimmed back to reduce government indebtedness, and others who want to maintain it as is.
But the New America Foundation just released a study that proposes a different approach: doubling the current Social Security payout, and making it a true national retirement system. Creating a more robust system of “Social Security Plus” not only would be good for American retirees, but also would be good for the greater macro economy.