Affordable Housing Institute : US

And after the Pajama Game, the Debtor Game
 
So many of the stories we read about subprime home buyers sinking under the weight of their high-interest-rate loans have one nagging flaw: the borrowers whom they cite were in debt trouble before they got the subprime loan.  As a consumer advocate puts it:
 
“A typical subprime borrower is […]

Making cities work will be the greatest demographic challenge of the twenty-first century.

 
It’s taken me about four months — since Rockefeller’s urban symposium — to figure this out, and get a glimmer of what it means for all of us.
 
Last July, I had the privilege and unbelievable intellectual pleasure of participating in Week 1 of […]

[Continued from Part 1 and Part 2.]  
Yesterday’s post deconstructing a Wall Street Journal article had reached the point of observing that securitization has made agency risk worse, because it has separated the value chain into separate discrete steps, each performed at different times by different people.  That increases certain types of risk.  As Mycroft Holmes […]

[Continued from yesterday’s Part 1.]
 
Yesterday’s post started deconstructing a Wall Street Journal article on executive pay and misaligned incentives by using Senator Howard Baker’s recurring compound question: “what did the President know, and when did he know it?”
 

Which piece of paper has the objective truth?
 
We found it was in the interest of these highly compensated […]

Those of us of a certain age can recall as if it were yesterday the Watergate hearings, and Senator Howard Baker’s recurring compound question: “what did the President know, and when did he know it?”
 

Say, whatever happened to that lawyer on the left?
 
For Baker and for many, this was more than an exercise in epistemology […]