Finally, a bottom for home prices. This paragraph made my brain hurt: A key signal that the bottom is near is a change in the ratio of average homes prices to personal income — houses are affordable again. After soaring to 4 to 1 during the housing boom, the ratio is now well below the [...]

Any Austrian economist has got to snigger at Rick Newman’s opening paragraph in his article in US News & World Report: One thing that’s fascinating about an economic crisis is the way ordinary people confound the experts. Consumers are expected to behave according to sophisticated economic models that have been built over decades, but sometimes [...]

  Here is an interview that I did in early February 2010.   Many entities, from the White House to various mortgage banking leaders to self-professed pundits, are trying to put a shame element to borrowers who find themselves with acute negative equity in their homes. Is it possible to successfully shame these people into [...]

This will appear as a published article on LewRockwell.com tomorrow. Roger Lowenstein has written one of the best articles I have read on the topic: walking away from your house. The prominent author and journalist published a January 7, 2010 article in the New York Times with the headline, “Walk Away From Your Mortgage!” Lowenstein [...]