Word: boom
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...bought or refinanced a house within the past year, there's a 1 in 4 chance you have the Federal Housing Administration to thank. The Depression-era agency, once the last resort of folks who were less-than-perfect credit risks, was practically forgotten during the real estate boom - anyone with a pulse qualified for a mortgage. Now the FHA has resumed its old role by propping up the housing market, since private lenders began shunning all but the least-risky loans. The FHA doesn't lend directly but rather entices lenders do so by agreeing to cover any losses...
...good chunk of the FHA's portfolio, though - nearly 40% - is made up of loans written over the past 12 months. In a way, that's a boon, since lenders have tightened their standards and as a result have sent higher-quality loans to the FHA. During the housing boom, more than a third of the loans the agency insured went to subprime borrowers; today, fewer than...
...artists like that theme, too. Do you listen to pop music? I don't listen to any music that has a backbeat on it. If I hear a drum going boom boom bap, boom boom bap, I don't listen to it. Never...
...which the members dress up in Victorian clothing and chase after a fox, finishing with tea and biscuits. “We do a lot of weird things spontaneously,” said Isaacson, “people got into the Mass Ave. intersection with ball gowns and a boom box once and ballroom danced every time that traffic stopped. Once a group went trick-or-treating with a door. So you would open your door to a door, potentially knock, and get candy...
...author of With Purpose: Going from Success to Significance in Work and Life (HarperCollins, spring 2009). He writes "The Boom Years" column for Money magazine and is a regular contributor to TIME magazine and Time.com. Visit his website, dankadlec.com, to view his latest work and see what he's up to next...