John Blackstone reports on the decline of the formerly stable housing market in Seattle, Washington, where home prices continue to drop.
Supply Side Meets Low or No Demand
Fewer Americans now own homes than at any time in the past 13 years. Skittish banks are tightening the purse strings and requiring larger down payments. That means many people are putting off or abandoning the idea of owning a home. Could that be a good thing?
|An ARM & a Leg|
Audio Embed: All Things Considered 2/20/11,
Host: Linda Wertheimer.
Stagflation In Sight?
Ben Stein was a speechwriter for American presidents Richard Nixon & Gerald Ford before notoriety as an actor, humorist & commentator.
When you think like a trader, housing is just another non-agricultural commodity. "Under water" home owners are the speculators stuck on the losing side of an "all-in" bet that home prices would always rise... It's part of why Wall Street fat cats feel no responsibility or shame.