Housing

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Urban Farming in Detroit and Big Cities Back to Small Towns and Agriculture

Nov 3rd, 2009 | By | Category: Featured, Housing, Politics
Were I an aspiring farmer in search of fertile land to buy and plow, I would seriously consider moving to Detroit. There is open land, fertile soil, ample water, willing labor, and a desperate demand for decent food. And there is plenty of community will behind the idea of turning ...read more

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Posted in Featured, Housing, Politics | 13 comments


Gold Stocks Take a Hit Plus Worse Than Subprime

Jul 22nd, 2009 | By | Category: Featured, Gold, Housing
The market clearly is not worried about inflation right now. That is the only way to explain recent 10-year Treasury yields of 3.30%. The deflationist view is the one that prevails. This view, which makes some compelling and elegant arguments, maintains that the credit losses far surpass the monetary and ...read more

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Posted in Featured, Gold, Housing | No Comments »


Mortgage Defaults May Trump the Fed

Jul 21st, 2009 | By | Category: Featured, Housing, Macro Economics
Good news everyone! The end of the world has been postponed indefinitely. You may now carry on as if another credit bubble is blowing (which it is, in China). It was a truly bullish way to wrap up the week. China reported a 7.9% rise second in quarter GDP, driven mostly ...read more

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Posted in Featured, Housing, Macro Economics | 7 comments


U.S. House Prices in Gold

May 6th, 2009 | By | Category: Featured, Gold, Housing
The broad sweep in housing-gold ratios is just as broad and as sweeping as both gold bulls and bears might hope... Even the UK's small, tightly packed mainland, floating off the edge of Europe, includes disparate and distinct real-estate markets. Glasgow is as different from London as Cornwall from Cheshire. But ...read more

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Posted in Featured, Gold, Housing | 8 comments


Math of Subprime Mortgage Default

Mar 24th, 2009 | By | Category: Emerging Markets, Energy, Featured, Housing, Macro Economics
This article tentatively accepts the proposition that the default of sub prime mortgages and the subsequent decline of housing prices have been the cause of critical problems in the banking system and collapse of credit markets world wide. Letís do some housing math.  Last fall there were about one million delinquent ...read more

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Posted in Emerging Markets, Energy, Featured, Housing, Macro Economics | 6 comments


Housing Markets Face Perfect Storm of Job Loss and Neg Am

Mar 19th, 2009 | By | Category: Featured, Housing
In the States overnight everyone went gaga over the news that construction of new U.S. houses rose in February by 22% over the January rate. That's an annual rate. So we'll see how it goes. It had been down six months in a row. Who knows why stocks really rally? But ...read more

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Posted in Featured, Housing | 2 comments


Obvious Culprits and the Untold Stories of Fannie Mae

Mar 18th, 2009 | By | Category: Featured, Housing
Whenever I hear people speak of the beginning of our dour and intricate financial crisis, I cringe.  Because most just miss the whole point. Democrats choose to blame the Bush Administration.  Republicans point at the Community Reinvestment Act and the Democrats.  Both are, interestingly enough, correct (I'm no fan of ...read more

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Posted in Featured, Housing | 1 Comment »


Hope Now: Pretending People Can Keep Their Homes

Mar 9th, 2009 | By | Category: Featured, Housing, Macro Economics
"Any house bought for 'No Money Down' should become a no money home, a free gift to the debtor. How's that for putting a floor under prices...?" Remember the great hope for Hope Now...? "Let's not harp on about the costs, absurdities or risks of governments meddling in real-estate bubbles when they ...read more

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Posted in Featured, Housing, Macro Economics | 2 comments


Zombie Economics, Part I

Nov 26th, 2008 | By | Category: Economics, Featured, Housing, Politics
Though Citicorp is deemed too big to fail, it’s hardly reassuring to know that it’s been allowed to sink its fangs into the Mother Zombie that the U.S. Treasury has become and sucked out a multi-billion dollar dose of embalming fluid so it can go on pretending to be a ...read more

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Posted in Economics, Featured, Housing, Politics | No Comments »


The BOE Cooks England’s Goose

Nov 10th, 2008 | By | Category: Gold, Housing
“I say, I say, I say — Did you hear about the joke of a central banker...?” Shock and awe was never supposed to be the Bank of England’s approach. “Predictable,” even “stolid” were meant to be this ancient institution’s watchwords. The current chief, Mervyn King, proclaimed it so. Time and again. “Our ...read more

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Posted in Gold, Housing | No Comments »


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