So You Want To Know Why We Are In This Mess?
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If you are wondering why the housing credit crisis happened, and the implicit role the government, media, and press played in it, please read this editorial by Paul Gigot at the Wall Street Journal.
He and his staff have been on this story since 2001. That is right, 2001. While the rest of the media and government kept it bottled up, he has been trying to expose the corruption and waste that has been coming out of Fannie Mae and Freddie Mac.
The abiding lesson here is what happens when you combine private profit with government power. You create political monsters that are protected both by journalists on the left and pseudo-capitalists on Wall Street, by liberal Democrats and country-club Republicans. Even now, after all of their dishonesty and failure, Fannie and Freddie could emerge from this taxpayer rescue more powerful than ever. Campaigning to spare taxpayers from that result would represent genuine “change,” not that either presidential candidate seems interested.
Read the whole editorial at WSJ.com
It probably is a really good time to buy real estate - monthly payments are about equal to market rents ...
The part about the inventory is right on but in my area they are mostly low end and beat up ...
I worked for this man, he is a great con man and has done this in more than States then ...
You're right. If you come from Central Jersey (as the Boss and I do), you go to Florida at some ...
Maybe it was kryptonite...
ECONOMIC REPORT
'Prolonged' recession, higher joblessness seen likely
NABE survey indicates most economists now believe U.S. recession's started
By Mike ...
I couldn't agree more.
The newspaper has always "stuck" it to the real estate agent with rates that were much higher ...
By the way, homeowners trying to get short sale approval should be aware that lenders are comparing the initial loan ...
Ouch! Thankfully I haven't come across anything like that yet. We normally don't have situations like that in ...
well, the guy was here illegally.
serves him right. 
BY USING FIRST CLAIM INSURANCE ADJUSTERS YOU WILL HAVE THE ABILITY TO LOOK AT YOUR INSURANCE SETTLEMENT AND REALIZE FIRST ...
Comment by St. George rentals on 23 July 2008:
That is quite a lengthy investigation and story to be following since 2001. Thank you for all of the good information.
Comment by Miami Real Estate Attorney on 24 July 2008:
Great article. From what I have seen here in Miami, if lenders simply required 20% down and verified income and assets, we would not have too many problems. The lenders approved of everything.
http://www.southptc.com/
Comment by Leisure City Real Estate on 24 July 2008:
is this the present day scenario? thanks for the info.