Housing Bubble Genesis: 5 Reasons that Didn’t Cause the Housing Bubble and 5 Reasons that did.
There is a danger in having power. Credit at least many decades ago was seen almost as an extension of the morality of the borrower. That is, the way credit was given many times reflected the capacity, collateral, and character of the borrower.  Main Street is already feeling this recession like the worst since World War II and […]
The Most Comprehensive California Housing Market Analysis: Looking at 11.5 Million Households and 32 Counties. Investing in California Housing is a Complicated Calculus.
The California housing market has had its worst year on record. 2008 will go down as one of the most difficult and volatile economic years in history. With that said, there is still a lingering notion or profound desire for bargain hunting. Many articles now try to call a bottom in the stock markets by […]
Gross Domestic Product: 40 Percent of the United States GDP comes from 5 States; California, Texas, New York, Florida, and Illinois.
Our gross domestic product contracted in the third quarter of 2008 and is contracting in the forth quarter. There is very little doubt surrounding that. The National Bureau of Economic Research put the start date of our current recession at December of 2007. Simply looking at the employment patterns and trends it appears that this […]
58% of Modified Mortgages Re-default after 8 Months: Why are Loan Modifications not Working?
The Office of the Comptroller of the Currency released data today showing that over half of modified mortgages are back in default after only 6 months. More startling data is that 36 percent of the borrowers re-defaulted after only 3 months. What this is telling us is that modifications are not helping to buffer the […]