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Housing Bubble

When the Media Mocks Minorities, Bankers Win

Richard (RJ) Eskow | Posted 05.04.2013 | Politics
Richard (RJ) Eskow

Economic exploitation can't take place without dehumanization and caricature. It could be argued that the most racist thing about this cover is the culture of exploitation which Businessweek's editors, consciously or unconsciously, served so ably last week.

Jason Linkins

Bloomberg Businessweek Goes Racist-Chic For Housing Bubble Cover | Jason Linkins | Posted 02.28.2013 | Media

Now that Newsweek is out of print, there's a vacuum to be filled in the whole "trollgaze" cover game. Bloomberg Businessweek has apparently decided to...

Reports: Shale Gas Bubble Looms, Aided by Wall Street

Steve Horn | Posted 04.22.2013 | Green
Steve Horn

Two long-awaited reports were published today at by the Post Carbon Institute (PCI) and the Energy Policy Forum (EPF). Together, the reports conclude that the hydraulic fracturing ("fracking") boom could lead to a "bubble burst" akin to the housing bubble burst of 2008.

'I Didn't Even Know I Was In Foreclosure'

The Record, Stockton, Calif. | Kevin Parrish | Posted 04.19.2013 | San Francisco

STOCKTON -- The moment is seared, like a scene from a horror movie, in Luz Sauceda's memory. She came home after picking up her teenage daughter from...

The FHA and the Role of Government When Markets Fail

Jared Bernstein | Posted 04.16.2013 | Business
Jared Bernstein

Now that the housing market is starting to come back to life -- that's "starting," as in it's got a long way back to healthy conditions -- the Federal Housing Administration is doing exactly what it should be doing: getting back to pre-crisis levels of lending standards and market share.

Is Wall Street's Business Model Corrupt?

Les Leopold | Posted 04.14.2013 | Business
Les Leopold

When what you do is make money from money, it seems as if breaking or avoiding laws and rules create victimless crimes. It's all a big game, where each person is trying to out-hustle the other. It's him or me so what does it matter if we both cheat a bit?

The Adjustable Rate Mortgage: Just Say No

James Berman | Posted 04.07.2013 | Business
James Berman

Why would so many people opt for an adjustable rate mortgage when it's so dangerous? Most likely, they just don't understand the risks.

Hatching Vultures

Dan Petegorsky | Posted 04.07.2013 | Business
Dan Petegorsky

So here we are, just a few short years past one economic Doomsday, and we're back to encouraging youth to make a career buying and flipping homes for profit. Not just any homes, but the still smoldering wreckage of the housing bubble.

There Is No Santa Claus and Bill Clinton Was Not an Economic Savior

Dean Baker | Posted 02.24.2013 | Business
Dean Baker

The truth is often painful but nonetheless it is important that we live in the real world. Just as little kids have to come to grips with the fact that there is no Santa Claus, it is necessary for millions of liberals, including many who think of themselves as highly knowledgeable about economic matters, to realize that President Clinton's policies sent the economy seriously off course. In Washington it is common to tout the budget surpluses of the Clinton years as some momentous achievement, as though the point of economic policy is to run budget surpluses. Of course the point of economic policy is to produce an economy that improves the lives of the people in a sustainable way. Clinton badly flunked this test.

Lucia Graves

Florida Grandmother Describes 'Emotional Roller Coaster' Eviction Process | Lucia Graves | Posted 12.21.2012 | Business

On a Thursday evening three years ago, Sandra McCutchen found an eviction notice stuck to the door of her Miami rental apartment. The following day, s...

Mozilo: 'I Have No Regrets'

The Huffington Post | Mark Gongloff | Posted 12.13.2012 | Business

Angelo Mozilo is the smartest man in the world. The Salmon-American hero of the housing boom that sadly ended for no apparent reason a few years ag...

The Budget Thugs: What Do They Know About the Economy?

Dean Baker | Posted 02.09.2013 | Business
Dean Baker

If the Fix the Debt members expect the country to take their pronouncements seriously, they should be forced to answer one simple question: When did you stop being wrong about the economy?

The Shrill And The Serious

Dean Baker | Posted 01.19.2013 | Business
Dean Baker

The reality is that the large budget deficits of recent years are due to the economic downturn following the collapse of the housing bubble. But pointing out this fact makes one shrill; you have to say that the deficit is a huge problem to be a serious person in Washington.

Of Groupthink, Financial Bubbles, and Lance Armstrong

Eric Laursen | Posted 12.31.2012 | Media
Eric Laursen

Monday's New York Times included a fine column by David Carr, taking the mainstream sports media to task as not-to-silent partners in the selling of the Lance Armstrong legend.

Is the Budget 'Crisis' History?

Dean Baker | Posted 10.30.2012 | Business
Dean Baker

Bringing health care costs in the United States in line with costs in other wealthy countries should not be an impossible task. After all, the U.S. can't be that much more corrupt than Italy, Spain, or the other countries that have managed to contain their health care costs.

Did the IRS Cause the Financial Crisis?

Bradley T. Borden | Posted 12.18.2012 | Business
Bradley T. Borden

The IRS possesses a fearsome audit power that gives it access to records and information that the public and litigants are yet to obtain. It should have used that power more effectively before the financial crisis.

New Housing Data May Signal a Passing Opportunity

Richard Barrington | Posted 12.03.2012 | Money
Richard Barrington

The latest housing information indicates that home prices have continued to make a slow and steady recovery. That's good news for the economy in general, and specifically could help homeowners and depositors in savings accounts.

Ben Hallman

Fannie Mae Pays Banks $1.5 Billion So It Can Fire Them | Ben Hallman | Posted 09.18.2012 | Business

Fannie Mae has paid $1.5 billion to a dozen banks that manage its massive home loan portfolio so that it can hire companies it thinks will do a better...

Housing Market 34 Percent Back to "Normal"

Jed Kolko | Posted 11.04.2012 | Business
Jed Kolko

Although home sales rose from 4.37 million in June to 4.47 million in July, they're still at the second-lowest level of the year with tighter inventory and lower vacancy rates holding back sales. Right now, home sales are 40 percent back to normal to from their worst point during the bust.

Doctors Remove Bullet From Victim's Head, Seek to Determine Cause of Death

Dean Baker | Posted 10.27.2012 | Books
Dean Baker

While the whole theme of Innovation Economics: The Race for Global Advantage is the need for more innovation, the book is not especially innovative in how it pursues this agenda.

Summer 2012: State of the DC Real Estate Market

Melissa Terzis | Posted 10.21.2012 | DC
Melissa Terzis

The market is hot again in D.C. and surrounding areas. But is this a good thing? While the news of a housing recovery makes people happy, another bubble is being created. Buyers who are escalating again are robbing their future equity.

Mayor Opposes Bold Plan To Help Homeowners

Crain's Chicago Business | Posted 08.15.2012 | Chicago

Mayor Rahm Emanuel has spoken out against a proposal that would use the government's power of eminent domain to help mitigate Chicago's foreclosure cr...

John Cusack Tackles Foreclosure Crisis

Chicago Sun-Times | Posted 08.15.2012 | Business

Hollywood star power—in the form of Evanston-born actor John Cusack--showed up at Chicago’s City Hall on Tuesday to support using the city’s con...

Shark Sightings from Cape Cod to Wall Street

Nancy Rubin Stuart | Posted 10.07.2012 | Business
Nancy Rubin Stuart

A new generation of finance shark pups have been growing in the muddy waters of big business since the 1980s.

Housing Market Forecast, From Maria Bartiromo (WATCH)

Posted 08.21.2013 | MarloThomas

Maria Bartiromo, anchor of CNBC's "Closing Bell" and financial author, recently joined me on Mondays with Marlo and she shared her expert opinion on t...