Press / Housing

Press

By / 7.23.2013

Following a half-century of economic decay and depopulation, there was a tragic inevitability to Detroit’s decision last week to declare bankruptcy. Motown must now restructure $18 billion in debt owed to 100,000 creditors and bondholders, deciding who gets paid, how much and when. That’s the plan to deal with Detroit’s past. But what about a […]

By / 7.17.2013

It is looking more likely that the comprehensive immigration bill the Senate passed last month will end up stalling in the GOP-controlled House. Although Republican partisans probably don’t realize it, killing immigration reform could do serious collateral damage to the housing recovery. Most economists believe that bringing 11 million undocumented immigrants out of the shadows […]

By / 7.3.2013

Mortgage rates have been scraping the cellar floor in recent years, bottoming out at around 3.5 percent for 30-year loans. Economics 101 says cheap money can’t last forever and, sure enough, goverment backed mortgage giant Freddie Mac reported last week that fixed rates jumped, now up a full percentage point, to 4.5 percent For the […]

In an article for The Fiscal Times, National Correspondent Josh Boak quotes PPI’s senior fellow Jason Gold: Congress has restarted its slog about the fate of Fannie Mae and Freddie Mac – and at stake could be the future of your standard issue 30-year fixed-rate mortgage. The two mortgage giants became wards of the state […]

By / 5.22.2013

If confirmed by the Senate, Rep. Mel Watt, D-N.C., will replace Ed DeMarco, the current – and controversial – acting director of the Federal Housing Finance Agency. While Democrats have been calling for DeMarco’s head for years as he has pushed back on more extreme housing remedies, Republicans have quietly supported DeMarco’s decisions. But the […]

By / 5.2.2013

Housing is center stage in the news and around the water cooler again, with newspaper and magazine stories dissecting minute fluctuations in home prices and questioning if this is the right time to buy a home or whether Americans should ever own real estate again. The experts and economists quoted in these pieces are smart […]

By / 4.24.2013

Writing for US News & World Report, Jason Gold notes that the Federal Housing Administration is outperforming most analysts expectations. Normally a small part of the mortgage landscape, the Federal Housing Administration dramatically expanded lending in 2008 when the housing bubble burst and private capital fled. While progressives hail the FHA’s role as key in […]

By / 4.10.2013

They may be in federal conservatorship, but a funny thing is happening to the two “troubled” mortgage giants, Fannie Mae and Freddie Mac: They are making tons of money. It’s enough to give federal bailouts a good name. With double-digit home price appreciation and more buyers coming off the sidelines, there have been fewer defaults […]

By / 3.11.2013

The housing bubble and ensuing financial crisis not only wreaked havoc on the U.S. economy, but it also shook public confidence in financial markets and robbed Americans of their faith in homeownership as a stable iconic pillar of middle class security. Much of the fallout can be blamed on the exotic financial “innovations” hawked by […]

By / 2.6.2013

Writing for US News & World Report, Jason Gold argues that despite conservatives and progressives’ demand for a reform of Fannie Mae and Freddie Mac, the two GSEs are going to stay as they are for some time. Fannie Mae and Freddie Mac, the two formerly private mortgage giants, have been in limbo since 2008 […]