Status report on the US economy: stand by for the boom!

Summary:  It's time for another look at the US economy. Economists have lots of enthusiasm. Lots of bad news, blamed on the severe winter that hit much (but not all) of America. Has the data warmed up? Is it Springtime in America? Content Stand by for the boom! About housing, a driver of the recovery … Continue reading Status report on the US economy: stand by for the boom!

Has the Fed blown another housing bubble?

Summary:  Critics and fans alike have speculated about the side-effects of ZIRP and QE (zero-interest rate policy, quantitative easing) run since 2008. One likely effect is blowing asset price bubbles. Today we have an article by Mark Hanson, an expert who believes a new RE bubble has been blown. If so, the effects of it … Continue reading Has the Fed blown another housing bubble?

Deflating the housing bubble – an update

Summary:  Since the first post here about the housing crisis in December 2007, it's been described here as not just a central piece of the economic weakness but a illustration of our political dysfunctionality -- our inability to use a crisis to identify structural weaknesses and generate the pressure for their reform. Here's an update … Continue reading Deflating the housing bubble – an update

A briefing about the foreclosure fraud crisis: its origin and impacts

Summary:  An introduction to the mortgage foreclosure fraud crisis.  At this time its size and importance remain unclear, but its evolution and resolution will tell us much about the state of America's political and judicial systems.  Esp see the links to more information at the end. The story is complex, and well covered elsewhere (see links … Continue reading A briefing about the foreclosure fraud crisis: its origin and impacts

Who should we blame for the mortgage crisis?

Here are questions asked on the FM website this week (some of these were assertions, which I've rephrased at questions).  Click on the question to go directly to the answer. Did FNMA and the other Government Sponsored Enterprises cause the sub-prime mortgage crisis? Did the Community Reinvestment Act cause the housing crisis? (1) Did FNMA and the … Continue reading Who should we blame for the mortgage crisis?