Tag Archives: subprime market

Blaming The Big Banks For The Housing Crash

Politicians want to blame the big banks and Wall Street for our recession and housing crash. They want to bleed the banks and make the big moneymen pay up to government and then distribute these payoffs to the politically connected. … Continue reading

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What The Subprime Market Gave In Loans, It Now Takes Away

Neighborhoods filled with subprime loans have had high rates of foreclosures over the past four years. As home values have plunged in these neighborhoods, banks have had no interest in refinancing loans underwater and no appetite for writing new mortgages. … Continue reading

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SEC Imposes New Rules On Mortgage Backed Securities

I dig this New York Times article. There is no mention that the subprime market was ginned up by Bill Clinton and the Democrats forcing Fannie and Freddie to buy subprime loans extended to minority homeowners who would not qualify … Continue reading

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Commercial Real Estate Still Has Not Hit Bottom

The subprime market went first. Then regular mortgages went south as people lost their jobs and could not make their mortgage payments. Foreclosures rose, real estate values fell, HELOC dried up, and home owners floundered. Commercial real estate has stayed … Continue reading

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Waiting For Congressional Investigation Of Fannie, Freddie

Report: Congress has taken the unprecedented step of authorizing the Treasury Secretary to spend $700 billion in taxpayer money in order to shore up troubled financial institutions. Congress has acted. It is now up to the Treasury, the Federal Reserve … Continue reading

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Desperate Journalistic Attempt To Shift Blame From Fannie/Freddie

Here’s a column from the Heritage Foundation: Desperate to defend the incoming corporate-socialist order, the Center for American Progress again defended Fannie Mae and Freddie Mac after Wednesday’s presidential debate. CAP’s Wonkroom notes that John McCain accused Fannie and Freddie … Continue reading

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Why Did Fannie Mae Pursue Subprime Loans?

From the Washington Post: Discussing the company’s successes, Mudd said one of Fannie Mae’s achievements in 2006 was expanding its involvement in the market for subprime and other nontraditional mortgages. A month later, Fannie Mae outlined plans to further expand … Continue reading

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The American Economy Has Never Been Better

Economist Steven A. Landsburg writes: Housing prices are down, which is a great boon to first-time home buyers — and I’m optimistic they’ll fall further. Gas prices are up, but given the widespread opposition to drilling in the Arctic, it … Continue reading

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Subprime Mortgages

The American home ownership rate jumped from 45% to 65% in the decade after WWII. Mortgage credit possibilities were opened up to the middle class. Poor people were rarely able to participate in this boom. In 1994, America’s home ownership … Continue reading

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Refinance Rescue

From the IHT: Today, President Bush and Democrats in Congress are all counting on the FHA to lead the national effort to rescue homeowners at risk of foreclosure. And Montgomery, a long-time Bush loyalist who came to this job with … Continue reading

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