Browsing Tag

mortgages

No Crisis Here

I decided to look at what President Bush’s Council of Economic Advisors (CEA) were saying in their annual reports for 2005-2007 about the massive real estate bubble, epidemic of accounting control fraud and mortgage fraud, the resultant…

Reckless Endangerment

The title of the latest crisis book is “Reckless Endangerment”. Authors Grechen Morgenstern and Josh Rosner sat down with Aaron Task at Yahoo’s Tech Ticker to review the role of the regulators in our crisis. Theirs is a story of regulatory…

Still Home Sick

The separation of abodes from investments should work to the advantage of rentals in future years. We’re not suggesting that Americans will give up on single-family owner-occupied housing. The idea of a single-family home of your own is…

Las Ciudades Fantasmas

Thanks to Iza Kaminska for pointing me to the video below of row after row of incomplete homes in Spanish host towns, las ciudades fantasmas. Spain has the same problem of overbuilding that the U.S. had during its bubble days. Now that…

US monetary policy and the saving glut

Is the global saving glut to blame for global imbalances? This column argues that the role played by loose monetary policy from the US Federal Reserve should not be overlooked. The prolonged decline in long-term interest rates in the…

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