Why Larry Summers is Wrong and Bernie Sanders is Right on Glass Steagall
Larry Summers, acting as a proxy for Team Clinton, attacked Sanders’ reform proposals, particularly the an updated Glass Steagall. Her’s why Summers is wrong.
Read more...Category Archives: Real estate
The Continuing Fight Over Fannie and Freddie, and the Real Problem of US Mortgages
How understanding the history of Fannie and Freddie, as well as how unnatural US mortgages are, helps explain why the fight over the future of the GSEs continues.
Read more...Debunking “The Big Short”: How Michael Lewis Turned the Real Villains of the Crisis into Heroes
How Michael Lewis’ The Big Short, whether for profit or by accident, has denied the public the truth about what really causes the crisis.
Read more...Guess What? You Can Pay $600 a Month to be Homeless in San Francisco
Being homeless in San Francisco is not necessarily a bargain.
Read more...Why Paul Krugman Blew It on His ‘Solution’ for Gentrification
One of the fallacies of proposals to limit gentrification is the idea that promoting more development in cities leads to more affordable housing. Stratified markets mean this is not a simply “supply and demand” problem.
Read more...Gaius Publius: Can Miami Beach Survive Global Warming?
Miami Beach as a canary in the coal mine for global warming.
Read more...Wolf Richter: Fed Trips over Eye-Popping Commercial Real Estate Bubble, Accidentally Looks, Sees “Early Signs” of “Search for Yield”
Commercial real estate has been on a tear that looks to have much more to do with cheap money than real economy prospects.
Read more...San Francisco Votes Against Affordable Housing, For AirBnB
San Francisco shows its libertarian side in key votes yesterday.
Read more...Trading Away Land Rights: TPP, Investment Agreements, and the Governance of Land
The nvestment provisions in the TPP and in most bilateral investment treaties can severely limit a government’s ability to manage its land and other natural resources in the public interest.
Read more...Michael Hudson on Parasitic Financial Capitalism
An interview with Michael Hudson on his latest book, Killing the Host, which focuses on the destruction wrought by financial capitalism.
Read more...Why Are Fannie and Freddie Raising Their Foreclosure Timeline?
One of the major fallacies skillfully employed by the lending industry since the foreclosure crisis is that the meddling defense attorneys and pro se litigants were clogging the courts with their dilatory motions and challenges, unnecessarily prolonging the foreclosure process, creating neighborhood blight and costing homeowners billions in property values by preventing “market clearing.” This […]
Read more...Wine and Water Watch (WWW) Challenges Northern California’s Invasive Wine Empire
Northern California activists opposed to the land and water use practices of the wine industry are stepping up their efforts.
Read more...Wolf Richter: Foreign “Smart Money” Frets about Turmoil at Home, Flees, Plows into US Housing Bubble 2, Thinks it’s a “Safe Haven”
Lambert: Just what we need; more 1%-ers. And if turmoil in emerging markets keeps up, we’ll have more of ’em, as conditions “at home” sharpen. By Wolf Richter, a San Francisco based executive, entrepreneur, start up specialist, and author, with extensive international work experience. Originally published at Wolf Street. Wealthy, very nervous foreigners yanking their money […]
Read more...Wolf Richter: Housing Bubble Means American Dream Withers at Record Pace
Despite the current housing “buying panic,” the soaring prices, and all the hoopla round them, there is a fly in the ointment: overall homeownership is plunging.
Read more...Affordable Housing Crisis Grows Across the Country as Apartment Rents Skyrocket
An update on where and how tenants are being squeezed by rising rents versus stagnant to low wage growth.
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