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Category Archives: Banking and Finance
Right-to-Rent Would Encourage Strategic Defaults
The right-to-rent proposal floating around Washington would crash house prices as loan owners everywhere strategically default to lower their monthly payments and stay in their houses. Continue reading
Reverse mortgages are causing widowed seniors to lose their homes
I don’t like reverse mortgages. I don’t like many forms of debt, but reverse mortgages are one of the worst forms out there. Continue reading
Posted in Banking and Finance, Fresh Perspectives, Home Economics, Mortgage News
Tagged Reverse Mortgages
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Too much finance?
Over the last three decades the US financial sector has grown six times faster than nominal GDP. This column argues that there comes a point when the financial sector has a negative effect on growth – that is, when credit to the private sector exceeds 110% of GDP. It shows that, of the advanced countries currently suffering in the fallout of the global crisis were all above this threshold. Continue reading
Banks Escape Again
As early as this week, federal bank regulators and the nation’s big banks are expected to close a deal that is supposed to address and correct the scandalous abuses. Continue reading