Category Archives: Econ & Money: Mortgage Mess

Your Welfare State In Action

Read all about it at The Washington Monthly, 20,000 Leagues Under the State.

Posted in Econ & Money: Mortgage Mess | 8 Comments

Palm Beach Post on Judicial Reactions to the Foreclosure Crisis

I’m quoted talking about the virtues of having judges look carefully at foreclosure cases instead of rubber-stamping them in the Palm Beach Post’s, Foreclosure crisis: Fed-up judges crack down disorder in the courts written by Christine Stapleton and Kimberly Miller.

Posted in Econ & Money: Mortgage Mess, The Media | Leave a comment

Spot the Difference

Headline on front page of Miami Herald, Sunday February 20, 2011

The curse of negative home equity:

Hundreds of thousands of South Floridians are underwater on their mortgages, which could have profound impact on the region’s economic recovery, or lack of.

Headline on front page of Miami Herald, Monday, February 21, 2011:

Miami boat, art shows during Presidents’ Day weekend point to a brighter economy

As thousands pack this weekend’s boat and art shows, and fill hotels and restaurants in South Florida, all signs point to an economy on the upswing.

“[A]ll signs point to an economy on the upswing”???

It’s hard to see the headline on the fluff piece in today’s paper — and its placement as the lead story top of the fold — as anything other than a corrective for yesterday’s serious journalism which was a solid article and a welcome antidote to the Herald’s generally boosterish coverage of the local businesses that advertise in it.

The actual article today is a perfectly standard feature story on the Boat Show. It’s the unwarranted headline and the ridiculous placement on a day when revolutions continue in the Middle East and the US hurtles towards a government shutdown that make me suspect the editors.

Posted in Econ & Money: Mortgage Mess, The Media | 2 Comments

Time to Check the Weather in Hell

It must be a cold cold day in the nether regions when I find myself substantially in agreement with ultra-right-wing activist Karl Denninger. Yet, his plan for dealing with the spiraling mortgage mess (incentivize quiet title actions on a mass scale) seems — at first glance — to have quite a lot going for it.

See What Must Be Done – Today. What do you think? Am I missing something other than the fact that our courts don't currently have the capacity to hear all these cases?

Posted in Econ & Money: Mortgage Mess | 7 Comments

Another Real Estate Slump

We have concrete evidence that the big three fantasy cover clichés (“castles”, “glowy magic”, and “swords”) are in decline. The 50% reduction in castles can only mean one thing.

Orbit Books, The Chart of Fantasy Art, 2009

(spotted via Boing Boing via Making Light)

Posted in Econ & Money: Mortgage Mess | 2 Comments

UM Foreclosure Fellows in the News

We got some great publicity for the Foreclosure Fellowship program I started early this academic year. But what we really need is money.

Unfortunately, even though everyone loves the program and the participants are doing wonderful things, we haven't found the $150,000+ it would take to run the program next year, even though there will be even more foreclosures. (See, for example, March Foreclosure Activity Highest on Record.)

The good news is that (last I heard) the law school is planning to have a traditional clinic aimed at housing issues, staffed by law students, that will work with lawyers at Legal Services of Greater Miami.

Posted in Econ & Money: Mortgage Mess, U.Miami | 3 Comments