As the housing market recovers from its worst downturn since the Great Depression, the time is right to re-assess the role of homeownership in American society. How did we go off-track? What must we do better? What are the crucial elements of sustainable homeownership?
The name Elizabeth Warren is one with diverging commentary attached to it. On paper, Warren is an Oklahoma native with a degree from George Washington University, a job teaching law at Harvard University and a close connection to her family. She was senate majority leader Harry Reid's head watchdog over the government's $700bn bailout fund and is considered "one of us" by consumer advocates, labor unions and academics alike.
Kermit Baker is the chief economist for the American Institute of Architects (AIA) in Washington, D.C. In this capacity, he analyzes business and construction trends in the US economy and examines their impact on AIA members and the architectural profession.
Despite federal intervention in the housing market and credit freeze that might not have had the desired effect thus far, certain signs of stabilization appear to be thawing, according to a new housing report.
"While it is too soon to tell whether housing markets will stabilize in 2009, conditions that could support a recovery are taking shape," like increased housing affordability and more balanced housing supply and demand, according to a housing report by Harvard University's Joint Center for Housing Studies.
The Federal Reserve should buy long-term Treasury securities, said President of the Dallas Federal Reserve, Richard Fisher, on Monday.
"I assure you the Federal Reserve has not abandoned the wisdom of Milton Friedman or Walter Bagehot or any of the other established patron saints of central banking," Fisher said in a speech at Harvard University. "But these are complex, trying times...we are the nation's central bank and we are duty bound to apply every tool we can to clean up the mess that has soiled the face of the financial system..."
“Nearly every part of the real estate process has been transformed by technology except for home financing. Getting a mortgage is still manual, frustrating and confusing,” said Nick Stamos, CEO and founder of Sindeo..
Legacy insurers are headed toward solid ground, with some experiencing their first full year of profitability since the housing crash. New entrants, meanwhile, are raising capital, entering the fray and gaining market share. Read More
First, I’m not suggesting totally yanking FICO or Vantage Scores or anything like that. What I am recommending is the adoption of other models that would equally, or even more effectively, determine who can repay a loan. Read More