Category: housing
-
Unsustainable Lending (part II)
News has certainly slowed down at the end of the year (and the Bush administration has checked out entirely), but the Fed just announced that it will buy $500 billion in mortgage backed securities (MBS) by the middle of next year. There are a few obvious questions that I have: (a) isn’t this what the…
-
Unsustainable Lending (part I)
I’ve been doing way too much reading about the mortgage crisis, and it’s kind of depressing how we got ourselves into this mess. The numbers just don’t add up…but I guess it never mattered for the people driving us into the ditch, since they get paid based on short-term results, long term be damned. There…
-
Not Our American Dream
Andrew Sullivan linked to a long article from 1985 on a couple building their dream house. Reading about all the space the couple wanted in their house was almost shocking. About a year and a half ago, we downsized from a 3.5-bedroom house in Michigan to a 1.5-bedroom apartment in California. We love our current…