Word: rates
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When the shortfall amount in question was $100,000, the walk-away responses accelerated at a faster rate. Some 7% of people said they would intentionally default when a $100,000 shortfall represented less than 10% of their house's value. Once that shortfall represented between 50% and 60% of the home's value, an entire 25% of respondents said they would walk away. The hesitation to intentionally default when the theoretical amount of negative equity was $50,000, even when representing the same percentage of a home's value, may relate to the high fixed costs that come with...
...price declines and found very little relationship between the two when house prices in a metropolitan area had dropped less than 20% from their peak. However, once prices had fallen more than 20%, a disproportionate number of people wound up behind on their mortgage payments, even when the unemployment rate (a measure of means to pay) was held constant...
...value. The recession, by and large, never made it to places like Bismarck (pop. 60,000). While the local economy is hardly bulletproof, for every bit of bad news - the Bobcat plant's summer shutdowns, say - there's more than one bit of good. How about a metrowide unemployment rate that's been dropping since February and at 3.7% is now less than half the national average? (See 50 authentic American experiences...
...antidiscretion case has been made for years with regard to Federal Reserve monetary policy. Becker's Chicago teacher Milton Friedman thought that instead of tweaking interest rates, the Fed should just automatically increase the money supply 3% to 4% a year. Measuring the money supply in an era of financial innovation has turned out to be awfully hard, so in recent years believers in an automated Fed have turned to an equation concocted by Stanford economist John Taylor that takes in inflation, current economic growth and long-term-trend growth and churns out a suggested Fed interest-rate target. Taylor...
Settlements, like all cities, experience population growth and the consequent need for civic resources like the kindergartens Barak mentions—that’s hardly the issue at hand. Continued rapid expansion is. And the U.S. should not accept hazy promises that could prolong a rapid rate of Israeli settlement expansion, perhaps the largest current impediment to peace between Israel and its neighbors. It’s one thing for the U.S. to deny in word alone the carte blanche that Israel enjoyed during the Bush administration, and another to take some sort of action. With regard...