The Mortgage Crisis Blog » Economy

Home Ownership in Crisis The British Experience of Negative Equity

The Mortgage Crisis Blog — Thu, 12 Mar 2009 20:31:30 +0000

Home Ownership in Crisis The British Experience of Negative Equity

Funded by the Joseph Rowntree Foundation, this book comes from a programme of work on Housing and the Wider Economy. The focus of this book is on the negative equity aspect of the program. It aims to get beyond aggregate estimates and gain a more detailed understanding of what the term actually means for individual households. By showing a range of circumstances in which negative equity arises, the intention is also to inform debates about the kind of policy initiatives which may be appropriate.

Buy/More Info

Decades old crisis worse than new kids on the block

The Mortgage Crisis Blog — Fri, 27 Feb 2009 07:51:17 +0000

A s the powers that be in business and government unearth facts, assess damage and point fingers about how our economy went in the ditch, one monumental factor is rarely mentioned. Behold a painful parcel of truth in three short but extremely telling lines, courtesy of American Economic Alert . Total U.S. goods and services trade deficit, 2001-2008: $4.738 trillion Total U.S. goods trade deficit, 2001-2008: $5.384 trillion Total U.S. goods trade deficit with China, 2001-2008: $1.429

Residents receive harsh treatment after mortgage foreclosure

The Mortgage Crisis Blog — Fri, 27 Feb 2009 03:21:43 +0000

Suau’s photograph, taken in Cleveland, Ohio, 26 March 2008, was featured as part of a Time Magazine story on the U.S. economy in crisis. Cuyahoga County Sheriff’s Department detective Robert Kole, gun in hand, must ensure residents have fully moved out of their home, after a mortgage foreclosure and eviction.

Anthony Suau wins World Press Photo Award

The Mortgage Crisis Blog — Fri, 27 Feb 2009 03:00:00 +0000

World Press Photo of the year 2008 was awarded this month to American photographer Anthony Suau. Suau’s photograph, taken in Cleveland, Ohio, 26 March 2008, was featured as part of a Time Magazine story on the U.S. economy in crisis. Cuyahoga County Sheriff’s Department detective Robert Kole, gun in hand, must ensure residents have fully moved out of their home, after a mortgage foreclosure and eviction. Anthony Suau, the author of the World Press Photo of the Year 2008, will receive his

Will the US economy go forward or backward with more Deficit Spending?

The Mortgage Crisis Blog — Fri, 27 Feb 2009 02:47:16 +0000

This recession keeps getting worse every month and the experts who denied it existed for the past year are now saying it will last at least until 2010. We have a new Democrat President with a new administration. Both the House and Senate are also Democratically controlled which makes is scarier because I believe the wrong plans and actions are being implemented. Currently, the housing bust is still in the middle of its collapse. It’s not a pretty sight but that is what happens in a recessio

How to Fix the Crisis in Six Easy Steps

The Mortgage Crisis Blog — Thu, 26 Feb 2009 08:35:34 +0000

There is a lot of chatter about different plans, market anticipations, and pitfalls when it comes to “fixing” the economy and, specifically, nationalization. Despite the fact that I don’t have the same reach as several uneducated members of the media , I figured I’d share what I think the way forward is, regardless. Step 1: Nationalize Citi and Bank of America. Let’s be honest, with recent talks of expanded stakes, ringfenced assets, and no end of the losses in sight, it’s probably time the

The Economic Crisis and the Fiscal Crisis: 2009 and Beyond

The Mortgage Crisis Blog — Thu, 26 Feb 2009 05:01:16 +0000

New research report from the Urban Institute:”With the economy mired in the deepest recession in decades a drop in economic activity that has been compounded by continuing mortgage defaults, a historic decline in housing prices, falling equity values, illiquid credit…

Defaults Everywhere – More Lending Is Not The Solution

The Mortgage Crisis Blog — Tue, 24 Feb 2009 05:26:31 +0000

Mortgage Defaults Only Part Of The Problem Mention loan defaults and most people probably think of mortgages. Home foreclosures due to mortgage defaults are getting the bulk of press coverage and the most attention in Washington. The credit crisis, however, is not confined to home mortgages. Lack of consumer demand, reduced incomes, lack of credit and an economy that seems to be getting weaker by the hour, is causing growing defaults in almost every category of lending. Commercial real es

Commentary: Time for immigration reform is now

The Mortgage Crisis Blog — Sat, 21 Feb 2009 06:50:52 +0000

Obviously, President Obama has a lot on his plate: two wars, an ailing economy, the mortgage crisis and more. But that doesn’t relieve him of the obligation to serve up his plan for immigration reform.

Suwaidi dismisses fears of subprime crisis in the UAE (Zawya)

The Mortgage Crisis Blog — Sat, 21 Feb 2009 06:07:19 +0000

21 February 2009 The UAE Central Bank has dismissed fears of a possible US-style subprime crisis in the Emirates, saying real estate mortgage loans by local banks had remained a fraction of the country’s economy compared to the United States.