mortgages

Sparks of justice still live in America – cherish them and perhaps they’ll spread

By / 2 Comments / 21 January 2017

These are nothing but tiny sparks.  But if encourage them, perhaps they will grow into something larger.  The first shows justice at work, for there are consequences to bank scofflaws.  The second shows a more typical situation. “A ‘Little Judge’ Who Rejects Foreclosures, Brooklyn Style“, New York Times, 30 August 2009 “Judges’ Frustration Grows With …

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The housing crisis allows America to look in the mirror. What do we see?

By / 63 Comments / 18 May 2016

One of the most fascinating narrative threads on this site has been about the oversupply of homes (technically “housing units”).  This over-building of units is the key to the housing crisis, as has been evident for at least 2 or 3 years.  A surplus of anything leads to falling prices until the surplus disappears, one …

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The corruption of a nation is usually hidden, but sometimes becomes visible

By / 6 Comments / 21 November 2008

Societies die from many causes, of which internal corruption — of rulers and the people — is among the most common.  Slow and hidden, it sometimes briefly emerges into view. “Are you an idiot to keep paying your mortgage?“, Kathleen Pender, San Francisco Chronicle, 16 November 2008 — The long-term corrupting effect of bailouts. The …

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