Word: overeers
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Dates: during 2000-2009
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Many of the nation's largest lenders, including Citigroup and JPMorgan Chase, have meager interest in converting homes into rentals. "We're in the lending business," says Chase spokesman Tom Kelly. "We're not really equipped to be landlords." Lenders are sitting on nearly half a million repossessed houses nationwide...
Fannie Mae has brought in a property-management company to run its rental program, but even with that imported expertise, the number of people who wind up as tenants probably won't be large. There are many alternatives that must be pursued first, including loan modification and trying to sell...
Now, none of that means rent-backs won't eventually take off. There are plenty of examples in the recent past of housing policies starting at the federal housing agencies and later expanding industry-wide thanks to strong-arming from some combination of the Obama Administration and Congress. Loan modifications...
How much is actually spent? In the U.S., about $65 billion a year is spent on holiday gifts. There's been this giant [holiday season] bump in retail sales in the U.S. going as far back as statistics are available, back to the 1920s and '30s. In fact, as a...
The global recession isn't just making jobs scarce and tightening spending - it's also turning more people into thieves. According to an annual survey released on Tuesday, incidents of shoplifting rose nearly 6% over the past year, representing nearly $115 billion in losses for businesses. One of the more...