Tag Archives: economists

Home Prices Keep Falling

Home prices have fallen for more than four years. I bet they fall for another four years. My sense of things is that the average home in the United States is over-priced by about 10%. Banks have hundreds of thousands … Continue reading

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Interest Rates Stay Low

Economists expected interest rates to rise dramatically in 2010. It hasn’t happened. They’ve stayed at record-low levels. The federal government has a huge deficit. Why isn’t this demand for funding driving up interest rates? How will this affect the housing … Continue reading

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Yisroel Pensack: Why Economists Cannot Think Clearly About Economics

The “Economix” blog at The New York Times today features an article headlined “Interest Rates and the Housing Cycle” by Casey B. Mulligan. Mulligan, an economics professor at the John D. Rockefeller-founded University of Chicago (read: citadel of privilege), treats … Continue reading

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The Three-Year Mortgage Fix

From thisismoney.co.uk: The cost of three-year fixed rate mortgages has plunged – making them an increasingly popular choice for homebuyers. With fees on home loan deals rising – the cheapest are now around £1,000 – homeowners are opting for medium-term … Continue reading

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American Home Prices Plunge

The New York Times reports: America’s home-buying season, when for-sale signs sprout like dandelions, is shaping up to be even worse than expected this year, with prices falling, sales slowing and few signs of a turnaround emerging. One showed that … Continue reading

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Home Prices Plunge

From Reuters: Prices of single-family homes declined a record 14.1 percent in the first quarter from a year earlier, marking a pace five times faster than the last housing recession, according to the Standard & Poor’s/Case Shiller national home price … Continue reading

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Profiting From Foreclosures

From the New York Times: JACKSONVILLE, Fla. — The house on East 24th Street was the worst of the six that David Law and Trey McCallister worked on the other day here. Trash littered the front and back yards. Mortgage … Continue reading

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Small Increase In Mortgage Applications

Here’s the news: The Mortgage Bankers Association said Wednesday morning that its Market Composite Index of mortgage application activity rose 2.9 percent to 674.4 for the week ended May 9; applications remained off 1.1 percent compared to year-ago activity, the … Continue reading

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How’s Wall Street Reacting To The Credit Mess?

Bad leveraged investments in subprime loans led to the current mortgage crisis. How’s Wall Street reacting? By going conservative. Companies are holding cash. Those with high-risk real estate investment portfolios are in trouble. David Leonhardt writes: A recession could cause … Continue reading

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We Haven’t Bottomed Out Of The Subprime Crisis

Business Weeks reports that the housing market is getting worse. Foreclosures are breaking records. Home equity is way down. And the economy is headed towards recession. For the first time since the Federal Reserve started tracking the data in 1945, … Continue reading

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