Feb 12 2009
Monthly Foreclosures and the Dreaded Road Ahead: On Path to another 3,000,000+ Foreclosures for 2009. 1 out of Every 173 Homes Received a Foreclosure Filing in California. 8,800 Foreclosure Filings a Day in the United States.
Foreclosures filings in past economic downturns were usually driven by job losses or contractions in the economy. In our current recession we had an interesting dynamic in that many foreclosures were caused by the actual mortgages given to borrowers. This of course spurred the housing bubble but more importantly, positioned a double whammy for our [...]
Jan 12 2009
Homeownership: Is a High Homeownership Rate Good Policy? No. Examining 3 Cycles of Homeownership Data over 100 years and Implications for the Economy.
The current housing crisis has left us with an opportunity to examine the driving issue behind a high homeownership rate. Is it really worth it to push for an economic policy that champions a high homeownership rate? The problem with blanket statements is they usually play into herd mentality and feed into group think. One [...]
