A lot of interest has been bubbling up about the $750 billion dollars that the Obama Administration has earmarked for loan modifications for borrowers who are under water on their home values. And, lots of homeowners around Atlanta are underwater, so it affects a lot of us. The ...
Monthly Archives: March 2009
Housing Starts Jump
Housing starts, or the number of new residential properties that began construction, jumped 22.2% last month. That is a big jump, especially in the midst of a housing crisis. So, could this spell the bottom of the housing crisis? Well, it probably points to something close to a bottom. However, the majority of the gain, ...
Debt Consolidation Refinance Getting (Even More) Difficult
A lot of people used to use their homes as ATM machines, cashing out every so often to consolidate the debt that they used to finance their lifestyles - which demanded more money than their incomes provided. Those days, thankfully, are over. Yet, I am meeting ...
It’s a Bird, It’s a Plane, It’s a…CEO
Jamie Dimon, the CEO of J.P. Morgan Chase, gave a talk to the US Chamber of Commerce meeting today. And, what a breath of fresh air! I have not heard the whole speech, so I cannot comment on it globally. But, he was an ...
The Root of the Credit Crisis
Could it be a simple as a mathematical formula that expresses only optimism? This article from Wired Magazine explains rise and fall of the CDO and CDS markets, and the ensuing pain for all Western economies, possibly better than I have read before. We've all heard that Credit Default Swaps (CDS) were at the root of ...