Month: December, 2007

Vicarage of the church of football

14 December, 2007 (09:49) | Innovations, Local issues, Markets, Workforce housing | No comments

That workforce housing is both a policy goal and a local political imperative is due to a simple inequality: 
Pay < Living Cost
 
Communities need some essential local professions that pay too little to enable the providers to live in the town they work.  Key to that, in turn, is a community’s definition of what constitutes […]

Figures don’t lie, but liars figure

13 December, 2007 (10:25) | Capital forms, Finance, Policy, Primer Posts | No comments

Homes are uniquely personal; money is uniquely impersonal.  People are emotional; markets are heartless.  When they come together — as in buying a house, or renting an apartment — the superego and id duel it out. 
 

One of us has got to lose
 
Brokers know that the key to a buyer’s wallet is his heart, not […]

Subprime: everybody start whinging: Part 3, pity the poor investor?

12 December, 2007 (10:21) | Ecosystems, Markets, Policy, Subprime, US News | No comments

[Continued from Part 1 and Part 2.]
 
Yesterday’s continuation of our examination of the subprime rate-reset amnesty program used the Wall Street Journal’s coverage to look at all the people complaining about the free handout, mainly from the borrower side.
 

That’s my position
 
I finished by observing that some on the lender side were likewise grumbling, such as:
 
Doug […]

Subprime: everybody start whinging: Part 2, what’s your beef?

11 December, 2007 (09:58) | Ecosystems, Markets, Policy, Subprime, US News | No comments

[Continued from Part 1.]
 
As I wrote yesterday, the mortgage industry debt-relief proposal should help roughly 1,200,000 households, at a stroke, moving them from future default into ongoing viability.  This is a huge thing, to be applauded.
 

 
It should reduce the default pressure by roughly forty percent — and that’s in everyone’s interest, as observed by the […]

Subprime: everybody start whinging: Part 1, what’s on offer?

10 December, 2007 (10:11) | Ecosystems, Markets, Policy, Subprime, US News | No comments

 
 
Almost as if they had been looking for an excuse to pounce, critics wasted no time in assailing the Administration-induced mortgage industry subprime homeowner relief package.
 
As reported by the you-would-have-expected-them-to-be-sympathetic Wall Street Journal:
 
Battle Lines FormOver Mortgage Plan
 

We’re bringing out the big guns
 
Battle lines?  I’m confused.  Who’s fighting whom?
 
WASHINGTON — In unveiling a plan to help […]