Archive for the ‘Housing’ Category

Four Deficits

October 11th, 2012

Here’s what I hope is a simple and straightforward way to think about what’s at stake in this election and the differences between the tickets. We face not one, but four deficits: –budget deficit –jobs deficit –investment deficit –security deficit Budget Deficit: That the current budget path is unsustainable is well understood by most voters. … Read more


October 10th, 2012

A few weeks ago, I argued that there’s a potentially useful collision of a number of trends occurring in the housing market: –mortgage rates are hitting historical lows; –home prices are finally appreciating; –refis are up. These developments have a lot in common, of course.  First, they interact in positive ways for borrowers and for… Read more

The Cost of Hitting Bottom

September 18th, 2012

Here’s an interesting oped by a few of my former White House economics colleagues.  They’ve come up with an estimate of how much further home prices would have fallen in the absence of the government’s home loan modification policies.  That, in turn, is basically an estimate of what it would have cost homeowners if we’d kicked… Read more

The Most Hopeful Economic Indicator Out There Right Now…

September 18th, 2012

…is…wait for it…the number of formerly underwater mortgages that have now breached the surface.  You can see them up there above the waves, a showering mist of former indebtedness spraying from their blowholes, evaporating in the sea breeze as home prices finally appreciate. OK, sorry about that.  But I think it’s fair to say that… Read more