Background It is indeed remarkable the propensity of our esteemed decision makers to ignore scientists’ warnings. Case in point, the March 1912 issue of Popular Mechanics correctly predicted that coal burning would accumulate carbon dioxide in the atmosphere and cause a greenhouse effect. Did the industrialized countries heed? The answer … Continue reading
Category Archives: Real Estate
The Real Estate Connection
The federal government directly buttresses the mortgage industry through insurance and guarantee programs: FHA has an insured portfolio in excess of $1.2 trillion, Ginnie Mae guarantees over $2 trillion in securities backed by mortgages with FHA or other federal agencies, and Fannie Mae and Freddie Mac –government sponsored enterprises (GSEs) … Continue reading
Homes Too Expensive
They say all real estate is local, but the West has more recently been an indicator of what is to come for the rest of the nation. It was the first region to crash in the mid-2000’s and the first to show signs of recovery toward the end of the … Continue reading
Inside Countrywide
WorkingRE Magazine Interview: Appraiser Who Brought Down Countrywide By Isaac Peck, Associate Editor The U.S. housing bubble and the corresponding real estate market crash of 2007-2008 brought about one of the most severe economic downturns in America since the Great Depression. The fallout was extensive: banks failed, established companies declared … Continue reading
Pressuring Appraisers
WorkingRE Magazine – reprinted by permission Pressure, Subtle Influence and Plausible Deniability Editor’s Note: Appraisers report that despite tough new appraisal independence laws, lenders, AMCs and others haven’t stopped trying to influence the process- they’re just being more careful about covering their tracks. Fraud expert Richard Hagar, SRA, explains how … Continue reading
Benefits of New Construction
• Residential construction has a positive, direct impact on the U.S. economy. • For each new single-family home that is built, NAHB (National Association of Home Builders) estimates that three jobs are created. • Jobs are generated in the industries where lumber, concrete, lighting fixtures, heating and cooling equipment, and … Continue reading
Renters’ Crisis 2015
09/21/2015 A report from Harvard’s Joint Center on Housing Studies and Enterprise Community Partners, an affordable-housing nonprofit group, provides further documentation of the growing housing crisis. The number of renters forced to allocate 50% or more of their income for rents is at an all time high, and growing rapidly, … Continue reading
Today’s Housing Crisis
Press Release (excerpt) November 25, 2018 J o i n t C e n t e r f o r H o u s i n g S t u d i e s o f H a r v a r d Uni v e r s i t … Continue reading
Unaffordable Rents
June 4, 2015 The National Low Income Housing Coalition has published a comprehensive report entitled Out of Reach 2015 describing in great detail how low wages and high rents affect people throughout the United States. California, our most populous state and a historical trendsetter, has the 3rd highest rents in … Continue reading