Posted in Housing Issues on Aug 24th, 2008
I meant to write about this article on the ForeclosurePulse blog earlier. My particular interest is low income housing but I have a passing interest in the housing statistics for Cincinnati. So here is the breakdown:
Cincinnati has about 7,385 properties on the RealtyTrac foreclosure list.
The 45215 zip code which includes the low income area [...]
Posted in Housing Issues on Aug 8th, 2008
I am guessing that there are a lot of anxious people pondering that question. The optimists out there are hoping for a quick recovery. The pessimists cannot help but notice that the bad news keeps coming. Today Fannie Mae announced that it lost $2.3B in the quarter and has cut its dividend. The really bad [...]
Posted in Housing Issues on Aug 6th, 2008
Reuters - Freddie Mac on Wednesday posted its fourth consecutive quarterly loss, set plans to slash its common stock dividend and warned of more difficulty ahead amid the steepest U.S. housing market slump since the Great Depression.
Although I recently expressed a negative opinion of Fannie and Freddie Mac’s future, I was a little surprised [...]
Posted in Housing Issues on Jul 25th, 2008
I am fascinated with the Fannie Mae & Freddie Mac bailout. As a Treasurer for a Habitat for Humanity affiliate I have an above average interest in the market for poor quality real estate loans. We were the original sub-prime lender. This bailout will allow Fannie Mae & Freddie Mac to corner the market at [...]
Posted in Housing Issues on Jun 10th, 2008
For those following the foolishness surrounding the mortgage meltdown crisis, this comic hits home.
Comic for June 10, 2008 service@dilbert.com (VPI.Net) Tue, 10 Jun 2008 07:00:00 GMT
Posted in Housing Issues on Mar 29th, 2008
This article explains the financial rationale for how securitized mortgages were supposed to work and how the failure of a few assumptions turned a nice profit into huge losses.
“The Subprime Crisis Is Just Starting” by Daniel R. Amerman, FSU Editorial 03/20/2008
Posted in Housing Issues on Mar 28th, 2008
Lenders loaned too much money on too easy terms to borrowers who did not have the capacity to make their payments. No alchemy by even the brightest minds on Wall Street could turn bad loans into good assets.
I have to agree with what Ethan Penner says above in the Wall Street Journal opinion piece, Of [...]
Posted in Favorite Quotes, Housing Issues on Mar 19th, 2008
“A bank is a place that will lend you money if you can prove that you don’t need it.”
Bob Hoperss@quotationspage.com (Quotes of the Day) Wed, 19 Mar 2008 00:00:00 GMT
Posted in Housing Issues on Mar 6th, 2008
The Federal Reserve Chairman tells bankers to create more losses by writing down mortgage loans.
I just saw this story, Bernanke’s ‘Principal’, in which he recommends re-negotiating existing mortgages at a much lower amount and forgiving the debtor for the difference. This is an incredible request since all of the pain will be born by [...]
Posted in Housing Issues on Mar 4th, 2008
A little profane humor from Google Docs about how subprime works. You are forewarned!
On this day, the Virginia Tech community reflects on the vibrant lives of the 32 students and faculty who were tragically taken from us a year ago. Through light, art, and music we pay tribute to each and every person we lost. We gather to honor our friends, colleagues, and family members. We will never forget.