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...falling housing market with a plan that will allow people to stay in their homes by reducing their monthly payments. The FDIC and some members of Congress assume that residential real estate prices will decline slower this way and eventually begin to increase in value if houses are kept out of foreclosure. That may be true, but the plan could be quickly flanked by rising unemployment and the realization by people who can stay in their homes with federal help that they will never have the equity to pay down their principle. The government will have pushed them into...

Author: /time Magazine | Title: Saving the Housing Market By Speeding Up Foreclosures | 2/18/2009 | See Source »

...come up with $100,000 to subsidize a sale. That house sits in limbo while the government makes the monthly mortgage payment low enough to keep it in the hands of its owner. Excess home inventory growth is artificially arrested because residences which would normally be for sale are kept off the market...

Author: /time Magazine | Title: Saving the Housing Market By Speeding Up Foreclosures | 2/18/2009 | See Source »

...financial issues generational in nature?" A hundred pages later, he will move in with a woman and score a mortgage from a little bank called IndyMac, which would eventually go on to become the second-largest bank failure in history. Somehow, Ayres knew the fall was coming and kept going anyway...

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

...field goals and 24 easy baskets in the paint during the opening 20 minutes. Cornell’s swarming defense proved vulnerable to guard penetration but forced 12 turnovers in the frame, including seven from Lin.“Their guards were pressuring up a lot, so if we kept our poise and made hard drives, we were able to get to the basket,” Housman said.The Crimson took a 9-7 lead when captain Andrew Pusar found Housman in the corner for a three-pointer four minutes into the game, but the ensuing...

Author: By Dennis J. Zheng, CRIMSON STAFF WRITER | Title: Ivy’s Best Crushes Overmatched Harvard | 2/16/2009 | See Source »

...spite of Matsui’s shooting, the Crimson’s solid play kept the score even. With a 14-3 run in the first 5 minutes of the second half, Harvard built a considerable lead, one that would not ultimately last...

Author: By Timothy J. Walsh, CRIMSON STAFF WRITER | Title: NOTEBOOK: Harvard’s First-Half Play Improves in Loss | 2/16/2009 | See Source »

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