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...madness of the former real-estate bubble: "Can Flip's mortgage really be possible? Even if it is (and it can't be), I doubt it can be legal. A million dollars with no down payment, for two grand a month? It's an insult to money - an insult to the value of money. No wonder the L.A. real estate market has a problem with hyperinflation: the mortgage industry is printing its own banknotes...All I know is this: there is only one conservative, sensible, educated strategy when it comes to home ownership in L.A.. I must buy immediately...

Author: /time Magazine | Title: A Brit in Los Angeles, Deep in Debt | 2/17/2009 | See Source »

...That's one of the reasons why the Obama Administration has been pushing hard to include funds for green building and for weatherizing existing homes as part of its economic stimulus package. Wherever the funding comes from ultimately, there's little doubt that lower-income developments will continue to go greener, which will do more good for residents, and for the planet. "This is going to make a real tangible difference," says Jennifer Henry, the real estate sector manager for the Natural Resource Defense Council's Center for Market Innovation...

Author: /time Magazine | Title: Building Green Houses for the Poor | 2/17/2009 | See Source »

There’s no doubt that a government mandate that each product list its carbon footprint would be ambitious, especially considering the cost and effort of the process. However, a tax credit could be offered to producers willing to publish their products’ quantitative effects on global warming. This would create incentives for many companies in the short run, and a new law could finish the job in the long...

Author: By Malcolm-wiley T. Floyd, CRIMSON STAFF WRITER | Title: More Taste, Less Carbon | 2/17/2009 | See Source »

Senator Dianne Feinstein, the state's most popular politician, has been coy about her intentions regarding the race. She would make a powerful candidate, but others doubt that she would give up her influence in the Senate...

Author: /time Magazine | Title: California's Big Race to Succeed Schwarzenegger | 2/16/2009 | See Source »

...second-largest economy shrank at an alarming annualized rate of 12.7% last quarter, its worst quarterly contraction since the 1974 oil shock. Exports also fell an unprecedented 13.9%, while the unemployment rate shot up to 4.4% in December, reaching levels not seen since World War II. "There is no doubt that the economy is in its worst state in the postwar period," said Economic and Fiscal Policy Minister Kaoru Yosano. (See pictures of Japan and the world...

Author: /time Magazine | Title: Japan's Prime Minister Aso Faces Ugly Economic Truths | 2/16/2009 | See Source »

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