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SATURDAY, NOVEMBER 7, 2009
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NEWS ABOUT: housing bubble

housing bubble stories: 34 news summaries

1 - 20 of 34 Stories | 1 2 Next >>

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Bubbles Reinflating,
World Bank Warns

Asian asset prices soaring as recovery takes hold

Nov 4, 09 3:32 AM CST
(Newser) - Efforts to boost economic recovery are having the dangerous side effect of creating new bubbles in property, stock, and currency markets, the World Bank warned yesterday. Commodity prices are also surging, with gold hitting a record price yesterday. The effect is most pronounced in Asia, where recovery has come soonest,... More »

MORE ABOUT:
stock market • World Bank • Hong Kong • market bubble • housing bubble • assets

Lawsuits Over Chinese Drywall Mounting

More homeowners cite damage, sickness, as feds finish inquiry

Oct 8, 09 9:00 AM CDT
(Newser) - With the controversy over Chinese drywall about to come to a head, the New York Times checks in on the issue and finds hundreds of lawsuits piling up around the country. The imported material, which became common as builders scrambled for supplies during the housing boom, is said to be... More »

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China • housing • class action • civil lawsuits • housing bubble • Chinese drywall

Feds Weigh New Bailouts
for Smaller Banks

Congressional Dems on board with plan to help institutions hammered by real estate

Sep 25, 09 6:40 PM CDT
(Newser) - With the residential and commercial real-estate markets continuing to hammer smaller US banks, the Treasury and other federal agencies are trying to diagram help for institutions considered too much of a gamble under original bailout terms. Congressional Democrats are “very, very supportive” of such a move, a source tells... More »

MORE ABOUT:
real estate • House Financial Services Committee • housing bubble • bailout • Jeb Hensarling • financial crisis • small banks

OPINION

Brown's Woes Offers Obama Reality Check

Voters don't reward economic competence after crisis: Krugman

Jun 8, 09 8:50 AM CDT
(Newser) - The Bush administration has taken much of the blame for the American recession, but a "huge housing bubble and a financial crisis" were always on the cards, as Paul Krugman writes for the New York Times. Writing from London, where voters gave Gordon Brown a pummeling in Thursday's... More »

MORE ABOUT:
United Kingdom • Gordon Brown • recession • global economy • Robert Rubin • housing bubble • bank regulation • deregulation • Obama administration • financial crisis

 Against Economic Tide, 
 Norway Thrives 

Often standing in contrast to Europe, strict state control puts Norway in good stead

May 14, 09 10:49 AM CDT
(Newser) - While the rest of the world struggles with recession, Norway’s socialist-leaning government looks pretty smart, the New York Times reports. Norway enjoys a budget surplus of 11% and is free of debt (the US owes $11 trillion), and its economy grew 3% last year. Oil revenues are pouring in—... More »

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socialism • Norway • capitalism • welfare • Arctic oil • housing bubble • banks

US Immigration Slows, Delaying Minorities' Rise

Won't form majority
until 2050s; security, economy take toll

May 14, 09 9:14 AM CDT
(Newser) - Immigration laws and the recession have slowed the growth of America’s immigrant populations, delaying the date when minorities will become the majority by as much as 10 years, the AP reports. Estimates had pointed to 2042, but it now could be another decade as growth slowed from 4% in... More »

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immigration • immigration reform • minority • illegal immigration • Latinos • housing bubble • economy • Asian immigrants

(Newser) - For some, 2009 may be remembered as the year of the Ponzi scheme: Last year, federal regulators prosecuted 13 such scams, but in just the first few months of this year, they’ve already filed 22 cases, reports ABC News. One recent bust is Long Island's Peter Dawson, who stiffed... More »

MORE ABOUT:
subprime mortgages • Ponzi scheme • mortgage lender • housing bubble • banks • Bernard Madoff

(Newser) - Erica Ferencik can’t stand the guilt anymore. “I am the reason the world is in an economic tailspin,” she writes in Salon. “I'm your neighborhood real estate agent, and I'm really, really sorry.” When Ferencik got into real estate 9 years ago, she found herself... More »

MORE ABOUT:
real estate • housing bubble

'Car Bubble' Blows Up on Automakers

Sales were artificially high in boom years; rebound unlikely

Apr 3, 09 10:01 AM CDT
(Newser) - The housing boom brought a car bubble along for the ride, and now that one has burst, so has the other, reports the Washington Post. Thousands of cars are sitting on lots and likely to stay there. “You had a huge number of cars being sold," says Steven... More »

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Chrysler • Toyota • General Motors • Ford • auto industry • auto sales • housing bubble

To Dodge Recession, Move to Huntsville

Mid-size cities do better in crunch, have seen lending increase

Mar 30, 09 12:42 PM CDT
(Newser) - While big cities and rural areas have taken a beating as the financial crisis unfolds, many mid-size cities have seen consumer lending increase, indicating an economic resilience that other areas lack, the Wall Street Journal reports. In cities with populations around 400,000—like Huntsville, Ala.; McAllen, Texas; and Provo,... More »

MORE ABOUT:
subprime mortgages • loans • US cities • cities • housing bubble • consumer credit • financial crisis • Equifax

(Newser) - The recession hit Southern California earlier and harder than almost any other part of the country—and it’s likely to linger a lot longer too, Steve Pearlstein writes in the Washington Post. The area played a “central role in the Bubble Economy,” and now, being the “... More »

MORE ABOUT:
California • Hollywood • real estate • Los Angeles • Southern California • recession • entertainment industry • housing bubble • Port of Long Beach • Port of Los Angeles • California economy

Hard Times Again Push Irish Youth Abroad

Flatlining economy makes US, Britain, Canada attractive

Mar 16, 09 9:20 AM CDT
(Newser) - After two decades of boom, Ireland’s economy has faltered and Irish youth are once again looking to distant shores for opportunity, the Los Angeles Times reports. Experts predict up to a 7% contraction this year for an economy that posted double-digit gains not too long ago, and, like their... More »

MORE ABOUT:
United Kingdom • Europe • Ireland • housing bubble • economy • job • students • financial crisis • Potato Famine

Bush Years Were Dark for US Economy

'We really went nowhere for almost 10 years,' says economist

Jan 12, 09 11:49 AM CST
(Newser) - The Bush years have not been good ones for the economy, the Washington Post reports, based on an analysis of economic data and discussions with economists of all stripes. Job growth for Bush’s tenure amounts to just 2%, the smallest 8-year gain on record, and GDP grew at... More »

MORE ABOUT:
Bush administration • real estate • economic growth • recession • GDP • housing bubble • economy • job • George W. Bush

Vindicated in 2008, Some Experts Foresee Gloomy '09

A few who called last year's calamities correctly see grim days ahead

Jan 2, 09 10:52 AM CST
(Newser) - Labeled overly pessimistic for years, a few Wall Street prognosticators became the oracles of 2008 by correctly predicting the unwinding of the global economy, the Wall Street Journal reports. The doomsayers correctly anticipated bank failures, stock market declines, and the housing market collapse of the second half of 2008. As... More »

MORE ABOUT:
stock market • global economy • bonds • credit crisis • housing crisis • housing bubble • financial crisis • financial meltdown

Housing Bust Makes Divorce Too Costly for Many Couples

Couples stick it out as tough market makes splitting too expensive

Dec 30, 08 9:47 AM CST
(Newser) - Breaking up is hard to do, but in a housing bust it can be well nigh impossible. With one in six homes worth less than the mortgage owed on it, couples on the skids are finding divorce plans scuttled by an inability to sell the marital home. And with job... More »

MORE ABOUT:
divorce • real estate • housing market • home prices • home equity • housing bubble • divorce settlement • financial crisis

OPINION

Krugman: Obama Can't Take Crutches Away Too Soon

Government must remain involved for economy to gain new footing

Dec 22, 08 12:54 PM CST
(Newser) - The Obama administration must resist the temptation to leave the economy to its own devices too soon, Paul Krugman writes in the New York Times. “Getting to the point where our economy can thrive without fiscal support may be a difficult, drawn-out process,” he writes, with no bubble... More »

MORE ABOUT:
Barack Obama • recession • trade deficit • Paul Krugman • economic stimulus package • housing bubble • economy • financial crisis • President Obama

ANALYSIS

Clinton's Gains-Tax Break Pumped Up Housing Bubble

Eliminating levy on profit from home sales encouraged Americans to play the market

Dec 19, 08 11:18 AM CST
(Newser) - A tax break introduced by President Clinton and made law in 1997 helped fuel the housing bubble that eventually led to the current economic crisis, the New York Times reports. The cut, which allowed owners to sell their homes without paying capital-gains taxes on profits up to $500,000, created... More »

MORE ABOUT:
real estate • Bill Clinton • capital gains tax • tax breaks • market bubble • housing bubble • financial crisis

Bernanke Plugs More Help
for US Homeowners

Fed chief outlines ideas for public, private sector to slow foreclosures

Dec 4, 08 4:54 PM CST
(Newser) - Ben Bernanke says more must be done to halt record US home-foreclosure rates, the New York Times reports. The Federal Reserve chief suggested several options today, including the government buying bad mortgages en masse and refinancing them through a government-insured program, and strengthening a scheme aimed at lowering homeowners’ monthly... More »

MORE ABOUT:
Ben Bernanke • Federal Reserve • foreclosure • mortgage • mortgage rates • mortgage debt • housing bubble • mortgage defaults • mortgage delinquency • financial crisis

OPINION

 Thrift Helped 
 Get Us Into 
 This Mess 

"Wealth effect" is playing out in reverse

Nov 25, 08 10:09 AM CST
(Newser) - Three factors are playing into the financial crisis, and it's time to recognize the culprit that accompanies the burst housing bubble and banking meltdown, Robert J. Samuelson writes in the Washington Post. The wealth effect—"the tendency of people to adjust their spending as their wealth changes"—... More »

MORE ABOUT:
Wall Street • consumer spending • housing bubble • economy • investment banks • financial crisis • wealth effect

 Guess What's Still 
 Selling Strong?

Obama's anti-gun stance and fears of economic chaos fuel record gun sales

Oct 27, 08 7:47 AM CDT
(Newser) - Fears of an anti-gun presidency and the threat of civil unrest in a worsening economic climate are fueling record sales of firearms and ammunition, the Washington Post reports. Sales have been climbing since 2006 and this year have shot past the average annual 5% increase to reach 10%, as gun... More »

MORE ABOUT:
Barack Obama • John McCain • housing bubble • Election 2008 • Sarah Palin • guns • gun rights • financial crisis

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