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http://bubblemeter.blogspot.com/ - A housing bubble blog dedicated to tracking the continuing decline of the housing bubble throughout the USA. It is a long and slow decline. Housing prices were simply unsustainable. National housing bubble coverage, with special attention to the ...
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From The Wall Street Journal : What last month had appeared to be third-quarter growth of 3.5% in gross domestic product turns out to have been a more modest 2.8%. Consumer spending was pared back to 2.9% from 3.4%. The cash-for-clunkers subsidy produced fewer new-vehicle purchases than first ...
Other
The Cato Institute's view of the housing bubble and resulting financial crisis: The housing bubble and its aftermath arose from market distortions created by the Federal Reserve, the government backing of Fannie Mae and Freddie Mac, and the Department of Housing and Urban Development and its ...
Stocks
Housing Market
Cato
Freddie Mac
Federal Reserve
Fannie Mae
From The Wall Street Journal : The proportion of U.S. homeowners who owe more on their mortgages than the properties are worth has swelled to about 23%, threatening prospects for a sustained housing recovery. Nearly 10.7 million households had negative equity in their homes in the third ...
Stocks
J.P. Morgan Chase
The month-over-month change was 10.1%: Existing home sales surged in October to the highest level in more than 2-1/2 years, according to a real estate industry report issued Monday. The National Association of Realtors reported that existing home sales rose 10.1% last month to a seasonally ...
Stocks
Month-over-month housing starts fell in October: In a blow to the optimism that had surrounded the U.S. housing sector in recent months, housing starts fell a sharp 10.6% in October, the Commerce Department reported Wednesday. New construction on housing units dropped to a seasonally adjusted ...
Other
Housing Market
Joseph Gyourko, chairman of the real estate department and the director of the Zell/Lurie Real Estate Center at the University of Pennsylvania's Wharton School, lists five myths about home ownership : Housing is a great long-term investment. The homebuyer tax credit makes buying a house more ...
Other
Joseph Gyourko
University of Cambridge
Housing Market
bubblemeter.blogspot.com - 9 days ago
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bubblemeter.blogspot.com —
The Wall Street Journal asks when the housing
bubble began: Why should we care when it all...
began? It’s politics. If the housing bubble began during the Clinton administration, it can be blamed on the Democrats and their efforts to expand ...
(more)
When did the housing bubble begin?
Comments
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naked capitalism
found this 9 days agofound this
This is karma: The private homes that New London, Conn., took away from Suzette Kelo and her neighbors have been torn down. Their former site is a wasteland of fields of weeds, a monument to the power of eminent domain. But now Pfizer, the drug company whose neighboring research facility had ...
Stocks
Pfizer
Columbia University economist Jeffrey Sachs criticizes the Democratic and Republican ideas for stimulating the economy: Following a Keynesian approach, the Obama administration has focused on restoring consumer spending. They have gone about this with a combination of near-zero interest ...
Government
Republican
Fox Business journalist Alexis Glick describes her recent interview with Robert Shiller: Today it was clearly visible that the historical data he looks at to predict the future is not working. The current appreciation in housing and other economic indicators are not what the models would ...
Stocks
Robert Shiller
Housing Market
Fannie Mae is in more financial trouble: Fannie Mae, the federally controlled mortgage finance giant, said Thursday it lost $19 billion in the third quarter and had submitted a request to the Treasury Department for $15 billion in more aid to stay afloat. District-based Fannie Mae and its ...
Stocks
Fannie Mae
Freddie Mac
US Treasury
As I'm sure you've heard, Congress and President Obama renewed the home buyer tax credit on Friday. It's a massive waste of money that will simply add to the national debt. Unlike infrastructure spending, which will enhance long-term growth while helping to bail the country out of its current ...
Stocks
The unemployment rate has reached the highest level since the early 1980s, rising to 10.2% in October 2009 . The last time the U3 (official) unemployment rate was this high was April, 1983 . (As a kid back then, it really didn't seem that bad—although I'm doing well now, too.) Initial weekly ...
Stocks
Automatic Data Processing
According to Harvard economist Edward Glaeser, Congress and the White House are intent on harming the planet : ENVIRONMENTALISTS who are worried about global warming should pay attention to the congressional debate about extending the home buyers tax credit. Federal tax policies toward housing ...
Government
Global Downturn
Harvard University
White House
Stupid stuff like this is why, after a decade of voting straight Democratic in state and federal elections, I decided to stay home yesterday and let the winds of change blow. I'm disgusted with both political parties.
Other
Here's an interesting look at how our little housing bubble may change macroeconomic theory. The crisis exposed the inadequacy of economists' traditional tool kit, forcing them to revisit questions many had long thought answered, such as how to tame disruptive boom-and-bust cycles. ... "We ...
Government
Frederic Mishkin
Federal Reserve
From last Wednesday's Washington Post : The number of Washington area homeowners in foreclosure has more that doubled in the past year, according to a report to be released Wednesday that shows the problem remains most acute in a few counties and could get worse as more borrowers fall behind ...
Government
Charles Schumer
Edmunds.com has analyzed the car sales numbers during the Cash for Clunkers program and estimated that the marginal cost was $24,000 of our tax dollars for each new car sold : A total of 690,000 new vehicles were sold under the Cash for Clunkers program last summer, but only 125,000 of those ...
Government
The median price of a house in the United States is roughly $175,000. Here's what a house at that price looks like in different parts of the country.
