Here I am, back in Washington DC, past midnight, in a hotel room with my favorite rubber giraffe and a snoring baby. I just got into bed but can’t sleep because Congress looks like it might extend the first-time home-buyer tax credit. The new Chris Dodd-sponsored deal has bipartisan support and a deal is at… Read More
The National Association of Realtors released data today showing that the November 2008 median home price dropped 13% from the November 2007 median price, even as mortgage rates plummeted to their lowest levels in the 37 years since anyone has been keeping track, to an average last week of 4.96% for 30-year, fixed-rate mortgages. Since… Read More
Watching the credit crisis destroy Wall Street this week, it was hard not to think of the mortgage episode of “This American Life,” which aired many months ago. Clarence Nathan: I wouldn’t have loaned me the money. And nobody that I know would have loaned me the money. I know guys who are criminals who… Read More