Tag Archives: great depression

The Booming Business Of Online Mortgages

The housing market and the mortgage market are in a downturn. This has gone on for five years and there’s no relief in sight. There’s never been anything like it since the Great Depression. Our economy is in its worst … Continue reading

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Housing Decline Worst Since Great Depression

The home ownership gap between blacks and whites has grown to its widest disparity in 40 years, erasing decades of progress by blacks. Why? Because blacks disproportionately bought subprime mortgages and when the recession hit in 2008, they often found … Continue reading

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Realtors Expect Home Prices To Rise 4% In 2010

This sounds like a triumph of hope over experience. I remember the chapter in the book Freakonomics about how realtors take much longer to sell their own homes, waiting for the best offers, than they do to sell your home. … Continue reading

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Refinance Applications Slump

The great refinance boom of 2009 may be over. Apps are down 8%. Rates are edging lower. Reuters says: U.S. mortgage application demand slid to the lowest level since mid-March, driven by a drop in requests to refinance loans even … Continue reading

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‘Chain of Blame: How Wall Street Caused the Mortgage and Credit Crisis’

This is an excellent new book on the mortgage and credit meltdown. The authors get inside the lives of the leading characters in the mortgage meltdown and explain what makes them tick and what makes their business work (or fail). … Continue reading

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The End Of Capitalism

Gerald Friedman writes: The end of US capitalism? I really doubt it. This is a very serious financial crisis and if mishandled could become a serious recession even a depression, but it is unlikely to be as bad as the … Continue reading

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Buying Bad Mortgages

WASHINGTON (AP) — The Bush administration is asking Congress to let the government buy $700 billion in toxic mortgages in the largest financial bailout since the Great Depression, according to a draft of the plan obtained Saturday by The Associated … Continue reading

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Refinance Trouble? Think About An FHA Loan

The Orange County Register reports that the FHA is taking up the slack for subprime lending. It’s a lot of effort to get an FHA home loan (which protects lenders from loss so they are more willing to make loans … Continue reading

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America’s Home Ownership Rate Plummets

This Washington Times editorial has no love for the Republicans, which is a surprise. It seems to call for government intervention. That politicians should deal with this problem more directly than it has with the Social Security mess. Housing prices … Continue reading

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Congress Wants To Act On Credit Crisis

It’s America’s worst credit crisis since the Great Depression. Now the Federal Reserve wants to change the rules. Congress wants to pass legislation. The AP reports: WASHINGTON (AP) — The most sweeping overhaul of the nation’s financial system in seven … Continue reading

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