Word: mortgagees
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Dates: during 2000-2009
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Banking problems were at the front of the gauntlet of bad news. The rise in prime mortgage defaults dampened the hopes that the housing market was in the midst of a comeback and the first few companies that have announced earnings have done no better than their gloomy forecasts said...
Over the short term, this can seem like a positive; we can get away with running a federal deficit that could hit $2 trillion this year only because of the dollar's status as global reserve currency. But borrowing trillions isn't really a ticket to long-run prosperity. In...
The Administration's theory is that the numbers on mortgages and home values are bound to get better. Its defense is simple. Enough money is being put into the economy to drive job creation, which drives income, which creates a larger pool of people who can afford homes. In addition...
The government is not alone in having trouble finding the key to the housing disaster. Almost all of the arguments and forecasts about residential real estate run in circles which may be why it is so hard to tease out what the real issues are. Only three things are certain...
The unprecedented level of global interdependence deepened the U.S. recession, but there is light at the end of the tunnel, according to the two professors of economics who lead a discussion on “The Global Impacts of the Financial Crisis” yesterday afternoon. International Economics Professor Richard...