The shocking number of foreclosed houses in July, over 90,000, has sent shockwaves through the economy – especially the Stock Market, as the Dow Jones Average has been near or below 10,000 the last few days (having reached highs just over 14000 a week ago). Investors worry about perceptions of future growth. The surprise of […]
The Debate About Interest Rates And Opportunities For Growth
Economists are not known as a gregarious bunch (save Paul Krugman, perhaps). So it might not be much of a surprise to learn that the reports (eight per year) from the Federal Reserve are known as “The Beige Book(s).” The report takes on information from the twelve district Reserve Banks concerning the previous few months […]
Recent Reports of Administration’s Efforts To End Foreclosure: “Extend And Pretend”
With midterm elections coming in November, and with the Democrats generally sailing against the political winds, reports about the difficulties and inadequacies of the Obama Administrations project “Making Home Affordable” (MHA) are likely to slacken further the party’s sails. The MHA program was set up in February 2009 as offering “opportunities to modify or refinance […]
Housing Market Remains Soft As Banks Shy Away From Loans
The bubble in the housing market (and the attendant mortgage-backed securities, etc. that pumped up the bubble) is largely blamed for the rise in debt among American consumers. The fear of, and calling in, of that debt led to the collapse in credit in the early fall of 2008 that sparked the recession. Though economists […]
As National Recipe Changes, So Should Marketing of Housing
The metaphor of the American melting pot has been around since the foundation of the republic, though the great breadth of peoples coming to the US did not really expand until the end of the nineteenth century. But along with the melting pot have come vociferous and sometimes violent resistance to immigrants – especially toward […]
Baltimore Finding Ways To Urban Renewal That Do Not Adversely Dislocate
In so many ways Baltimore spent much of the second half of the twentieth century as a city that snatched defeat from the jaws of victory: A vibrant industrial and trading city with a notable financial sector as well (in the decade after World War II), a city of some 2 million people who enjoyed […]
#Interview: Bernell Grier, CEO of Neighborhood Housing Services of New York City
The board of directors of the Neighborhood Housing Services of New York City recently appointed interim chief executive officer Bernell Grier as the CEO of the organization. Ms. Grier has built up an impressive resume as a banker having over her career serving as EVP, Retail Community Banking; SVP Middle Marketing Lending; Community Development Director; […]
NeighborWorks Week Draws To Successful Close
The NeighborWorks Week (June 5-12) that just finished (and that we promoted a couple of weeks ago) focused on educating homeowners to the danger signs of mortgage-assistance scams and predatory loan practices. According to the NeighborWorks website, “NeighborWorks America and local NeighborWorks organizations held more than 320 community revitalization and 150 loan modification scam awareness […]