Great Recession - Articles

Home Prices Rise 6.3% in October, Most in 6 Years

By Christopher S. Rugaber WASHINGTON -- A measure of U.S. home prices rose 6.3 percent in October compared with a year ago, the largest yearly gain since July 2006. The jump adds to signs of a comeback in the once-battered housing market. Core Logic also said Tuesday that prices declined 0.2 percent in October from... Continue Reading »

Bernie Madoff's Brother Selling $6.5 Million Home for Charity

As perhaps a bit of penance from a man with the most unfortunate surname since bin Laden, Peter Madoff, the notorious Ponzi schemer's brother, is selling his $6.5 million New York mansion for charity. All of the proceeds will reportedly be given to victims of Bernie Madoff's multi-billion dollar Ponzi scheme. How will the... Continue Reading »

Case-Shiller: Why the Sky Isn't Falling

Count me among the unpanicked over the Standard & Poor's/Case-Shiller monthly housing index that shows housing values have dipped past a low set during the Great Recession. I'm not even getting goosebumps over the chilling words "housing double-dip." Nope. For the 70 million home-owning Americans who don't have a need... Continue Reading »

10 Cities Where Home Prices Are Plummeting

Nearly two years since the Great Recession officially ended, the housing market still shows few signs of picking up. And it could get worse before it gets better. Looking further back, home prices have now hit their lowest point in two years, falling 0.7 percent below March 2009 levels, according to a recent report by... Continue Reading »

Housing Slump Points to New Recession, Say Some Economists

Think back to late 2007, before the stock market crash of 2008. If you'll recall, the first omen of the Great Recession was a housing market decline. Now some economists are suggesting that a current stall in home sales and new construction portends a new period of economic downdraft. A foundering job market, declines on... Continue Reading »

Best Protection Against Another Housing Bubble May be a Generation's Painful Lessons

The market value of your house is down 20 to 30 percent from its peak and could have further still to go. Jobs are scarce and the idea that home values will rise again seems remote. But this, too, shall pass (yes, your home value will eventually recover). And I can tell you exactly why -- psychology. The good news is... Continue Reading »

How Bush's Secret Plan to Fool Saudis, Chinese With Loan Money Backfired

Yesterday, I wrote a post titled "Who Killed M3?" that explored a Bush-era decision to stop tracking a key measure of money supply, and its link to the housing bubble. Today, I explore that further. What did George W. Bush have against M3 that made it important enough to risk the world economy to get rid of? It was an... Continue Reading »

Attention Shoppers: Architects On Sale!

We know autoworkers were slammed during the Great Recession. But also spare a thought - if you will - for those once-celebrated creative types who ruled the design world, made big bucks and graced the society and style pages. Yes, we mean architects, who are, sad to say, suffering. According to the Bureau of Labor... Continue Reading »

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