This study from the New York Fed has been floating around parts of the blogosphere for the past couple of days. It’s an analysishome ownership rates and the effect of negative equity on the rate. I just got around to reading it and it’s worth your time. The authors contention is that the high rate […]

The NYT has a story that kind of states the obvious. As ultra low interest rates persist, those that rely on interest income from savings are getting squeezed. They offer a quote from Pimco’s Bill Gross which neatly states the status quo: “What the average citizen doesn’t explicitly understand is that a significant part of […]

As the Senate put the final touches on its plans to eventually nationalize health care in the country, the Obama administration via its Treasury Department quietly completed the government takeover of the housing industry. On Christmas Eve, Treasury announced that it would provide unlimited support to Fannie Mae and Freddie Mac for the next three […]