Category: Uncategorized

The subprime lenders that worked: Part 3, more why

31 May, 2007 (09:58) | Uncategorized |

[Continued from the previous Part 1 and Part 2.]   Not only (as we saw two days ago) have the state housing finance agencies been able to lend in the subprime marketplace without experiencing high rates of default, we can also trace their lower defaults to specific structural elements in their business approach. Yesterday I […]

The subprime lenders that worked: Part 2, why

30 May, 2007 (08:59) | Uncategorized |

Yesterday —   All my blog posts seemed so far away — we saw, in an era when national multi-billion dollar subprime lenders could collapse seemingly overnight, one category of lender — the state housing finance agencies — has been working in the same space, with the same target customers, in the same period of […]

The subprime lenders that worked: Part 1, who

29 May, 2007 (11:10) | Uncategorized |

  Amid all the stories about the subprime sector’s troubles, Gloom! Doom! Film at eleven! a remarkable finding — a whole group of subprime lenders whose loans have done well — has gone largely and curiously unnoticed.   I’m modest about my accomplishments Who are these heroes? As presented in this Standard and Poor’s report […]

To each according to its need: local taxes and revenue sharing

28 May, 2007 (08:45) | Uncategorized |

After mortgage payments, a homeowner’s second largest expense is real estate taxes, which under real estate taxes basic budget algebra, form the biggest slice of the local-government revenue pie, which pays for local services including public schools.  Localities thus have a very direct link between the value of their homes and the quality of their […]

As a town dies

25 May, 2007 (10:07) | Uncategorized |

Throughout history, cities have been where wealth was created, ideas were born, businesses blossomed, and revolutions started.  Cities exist for their connections of people to people, and as we have seen in posts on local real estate taxes, they too are economic organisms, whose ability to provide services and amenities to their inhabitants depends in […]