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follow tovarichpeter 2018 Mar 29, 2:45pm
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Despite tough banking rules put in place after last decade's housing crash, the mortgage market again faces the risk of a meltdown that could endanger the U.S. economy, warn two Berkeley Haas professors in a paper co-authored by Federal Reserve economists. The threat reflects a boom in nonbank mortgage companies, a category of independent lenders that are more lightly regulated and more financially fragile than banks—and which now originate half of all US home mortgages."If these firms go out of business, the mortgage market shuts down, and that has dire Implications for the overall health of the economy," says Richard Stanton, professor of finance and Kingsford Capital Management Chair in Business at Haas.
My brother, who spent 45 years with HUD, thought Patrick’s book The Housing Trap, was brilliant.
It's still the only book of it's kind, that I am aware of.
Drunk, stoned starving REALTORS cruising around in stolen self-navigating cars shooting out the windows of abandoned hulks!