Restoring America’s exceptionalism
Regulatory relief and reform To restore incentive and encourage growth we must reduce the regulatory burden on our economy. There is a place for regulations that ensure safety and soundness and protect people from danger,...
10 ways to supercharge the American economy
He's spot-on since Obama's progressive pottage has left us with a sluggish economy, unemployment over 9 percent and a 14.3 percent poverty rate—more poor people than we have had in a half-century. Our economy suffers...
Mourning the loss of freedom to fail
It is perhaps even stranger to claim that we should actually fear losing the freedom to fail. Most of us are hardwired to avoid losing, and giving up the prospect does not logically seem...
The madness of Capitol Hill’s kings
The bill is an economic disaster. It will destroy jobs and harm capital creation. Even in the best of times, such an act would be extremely hurtful to the economy. Under these circumstances, it's...
Dangerous trends
The real precedent was set with the 1998 multi-state tobacco settlement of $365.5 billion. Tobacco is a legal substance. In the mafia, this is called a shake down. If the government can attack one...
Apartment industry at a crossroads
It is obvious that there has been a fundamental change in the demand for homeownership over the last few years. Fiscal policies and social pressures have encouraged American consumers to buy homes, oftentimes biting...
The success of the U.S. at creation destruction
But as the government steps in to bail out automakers and financial institutions, is the world's largest economy undermining the very process of creative destruction that has propelled it thus far? Steven Davis, a professor...
State of Multifamily Financing
With uncertainty about what the reform of Fannie Mae and Freddie Mac will bring, mandatory reductions in their portfolios scheduled for 2010, and questions about the capability of FHA to handle greatly expanded loan...
Housing Bill deemed most significant in a generation
Significantly, the measure represents a balanced approach to housing policy by trimming home-ownership incentives, and balancing single- family incentives with expanded rental housing incentives. Here are some highlights: FHA foreclosure rescue This creates a refinance program for...
Sub-prime bail out
Encouraged by the housing bubble, easy credit, along with the expectation that housing prices would continue to appreciate, many subprime borrowers took out mortgages they could not afford in the long run, particularly if...
The recession is a media myth
But over the last half-year, the media and politicians have said we were in a recession even while the economy was still growing. Gas prices are going up. The economy is slowing. Talk of recession...
The moral economy
But despite the politicians' rhetoric, it is not hard to understand why America is in trouble. First, there has been too much madcap real estate speculation. In recent years, housing prices were driven sky-high on...
Agency borrowing: Why the multifamily industry relies on GSEs
First, there are the portfolio lenders including banks and insurance companies. These lenders retain loans "in their portfolio" by making loans using funds from deposits or insurance premiums and then keeping those loans on...
Community opposition to multifamily
Overcoming community resistance to multifamily development Community opposition to multifamily has become one of the top barriers to construction of accessible, sustainable housing in America. But there are strategies developers can use to build political...
Gen Y buy in
Not long ago apartment living was an accepted rite of passage -- a years-long holding station between dormitory living and home-ownership. But with today's mortgage interest rates near historic lows, lenders offering more flexible...
