When the Middle Class Lost Its Wealth
Until 2008, rising home values gave the middle class a cushion amid growing income inequality. But following the financial crisis, that wealth has failed to return.
Read more...Category Archives: Real estate
AOC Rental Woes a Reminder of Worsening Conditions for Workers
Rising rental costs put a spotlight on how it is even harder than ever for ordinary workers to get by.
Read more...Mischaracterizing HAMP and Principal Reduction: A Regression Discontinuity Test Error
Explaining a fundamental error in a widely-touted paper on HAMP modifications.
Read more...What’s the Problem with Financialization?
Some of the analytical sleights of hand used to promote the ideology of financializatation.
Read more...“Fatally Flawed” Paper on HAMP Mortgage Program Gets Program Design Backwards, Botches Regression Analysis, Yielding Propagandistic Findings
How a new paper on HAMP manages, by not understanding the program. to whitewash it as well as promote financialization.
Read more...Michael Hudson: Rescuing the Banks Instead of the Economy
Michael Hudson on his themes of how banks are mainly funding real estate rather than the economy and the problem of failing to write down debt that can’t be repaid.
Read more...Michael Olenick: The Real Story of “MAGA Bomber” Cesar Sayoc’s Foreclosure
A key piece of stripper-turned-MAGA bomber Cesar Sayoc’s slide into financial ruin.
Read more...Man Whose Mexico Beach House Was One of Last Standing After Hurricane Michael Calls Out Climate Denier Politicians
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Read more...Richard Murphy: Who Really Pays the Tax on Rents?
Clearing up a widespread misperception about tax.
Read more...“High End” Apartment Construction Totally Dominates, Creates Mismatch of Supply & Demand
Urban apartment development all over the US has been heavily skewed towards luxury units, even though there isn’t enough demand for all the supply.
Read more...Michael Hudson: The Lehman 10th Anniversary Spin as a Teachable Moment
Why you should take conventional wisdom about the Lehman collapse and the crisis with a fistful of salt.
Read more...Wolf Richter: Here Comes the Second Wave of Big Money in the “Buy-to-Rent” Scheme
PE firms are paying prices at the peak of the market, amid ceaseless complaints that there isn’t enough inventory of homes for sale,
Read more...Asset Prices and Wealth Inequality
How asset prices have driven the evolution of US wealth inequality over the last 70 years.
Read more...Bill Black: Pre-Crisis “4506-T Studies” Showed Massive Fraud in Liar’s Loans; Fed Ignored Warning, DoJ Refused to Target Implicated Banksters
Yet another proof that the authorities were given evidence of widespread mortgage fraud before the crisis and chose to do nothing about it.
Read more...Bill Black: Mankiw Whiffs on “Learning the Right Lessons from the Financial Crisis”
Bill Black debunks a book that tries to relitigate the crisis by denying that Lehman was insolvent.
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