via Flyertalk: A housing crusade that went awry Today, administration officials say it is fair to ask whether Bush’s ownership push backfired. Paulson said the administration, like others before it, “over-incented housing.” Keith B. Hennessey, Bush’s current chief economics adviser, put it this way: “I would not say too much emphasis on expanding homeownership. I… Continue reading Good housing crisis article.
What the real crisis is like! No quote: the linked-to site is billed as “humor”, and the lead-in and text are minimal, but it’s fascinating to put some pictures to the facts. Latest news seems to be on $200M notes.
via AmericaBlog: Somali Pirates in Discussions to Acquire Citigroup November 20 (Bloomberg) — The Somali pirates, renegade Somalis known for hijacking ships for ransom in the Gulf of Aden, are negotiating a purchase of Citigroup. The pirates would buy Citigroup with new debt and their existing cash stockpiles, earned most recently from hijacking numerous ships,… Continue reading Somali Pirates in Discussions to Acquire Citigroup
Found via a post on the Flyertalk OMNI board: 04.28.08 | Chicago Driven to the Brink A new analysis shows that high gas prices are not only implicated in the bursting of the housing bubble, but that the higher cost of commuting has already re-shaped the landscape of real estate value between cities and suburbs.… Continue reading Decline of the suburbs and exurbs?
Depression risk might force U.S. to buy assets NEW YORK (Reuters) – Fear that a hobbled banking sector may set off another Great Depression could force the U.S. government and Federal Reserve to take the unprecedented step of buying a broad range of assets, including stocks, according to one of the most bearish market analysts.… Continue reading OMG, they’re actually using the D-word.
No idea what to make of this, but in case it’s of interest to any of my readers: Thailand Abandons Limits on Foreign Stock Investments (Update6) By Suttinee Yuvejwattana and Margo Towie Dec. 19 (Bloomberg) — Thailand scrapped currency controls on international stock investors one day after their imposition by the central bank prompted the… Continue reading Thailand in the economic news
Via AMERICAblog: Wholesale prices surge; Housing rebounds WASHINGTON – Inflation at the wholesale level surged by the largest amount in more than three decades in November, reflecting higher prices for gasoline and a host of other items. The Producer Price Index, which measures inflation pressures before they reach the consumer, was up 2 percent last… Continue reading “It’s the economy, stupid.”
Chris on AmericaBlog writes: Scooter-mania hits the US With the high cost of gas (though don’t worry, it just dropped under $73 today!) Americans are turning more and more to scooters. Over here in Europe, they’re everywhere and while I’ve always liked the look of a Vespa, there’s a price to pay for them. They… Continue reading Scooters on AmericaBlog…
Older story, but worth reposting here…. Calif. housing bubble seen deflating UCLA researchers see prices flattening Updated: 5:37 p.m. ET June 21, 2005 SAN FRANCISCO – California has a housing bubble, but it may not pop with a bang, UCLA researchers said in a quarterly economic forecast. Sounds like wishful thingking. I’ll believe it when… Continue reading A temporary hiatus?
Million Dollar Trailers A two-bedroom, two-bathroom mobile home perched on a lot in Malibu is selling for $1.4 million. This isn’t a greedy seller asking a ridiculous amount no one will pay. Two others sold in the area recently for $1.3 million and $1.1 million. Another, at $1.8 million, is in escrow. Nearby, another lists… Continue reading More California Craziness
The Trillion-Dollar Bet American homeowners have made a trillion-dollar bet that mortgage rates will remain near record lows for at least a few more years. But with some interest rates already rising, economists worry that the bet could turn bad. The problem is that new types of mortgages that hold down monthly payments for families… Continue reading “The Trillion Dollar Bet”
Via a guest-blogger posting on Bitch.Ph.D, we get an link to Affordable Family Formationâ€“The Neglected Key To GOPâ€™s Future The key reason why some states vote Republican, Iâ€™ve found, can be summed up in the three-word phrase: Affordable Family Formation. In parts of the country where it is economical to buy a house with a… Continue reading r- versus K-selection in politics.