Apparently there are some in the government who feel like they haven’t done enough yet to “help” the housing market, because Calculated Risk had a great post yesterday on the subject of a possible return of the undead tax credit. From Reuters: No Decision on Reviving Homebuyer Credit: Donovan “It’s too early to say whether…
Category: Opinion
Opinion, commentary, etc.
Does anyone pursue actual home ownership anymore?
I’m hoping the readers of Seattle Bubble can help me out with something. First, a little background on my perspective. My parents bought their first house in 1987, when they were about 30 years old. They paid $45,000 for the modest 1,288 square foot, 3-bedroom, 1.75-bath house pictured below. They refinanced once in the ’90s…
Treading Water Between Fear and Desperation
It’s been quite a while since we had a look at the “Cycle of Market Emotions.” The Cycle of Market Emotions Last time, in late 2007 as prices just began to decline here in the Seattle area, I pegged our location on the curve at somewhere between anxiety and denial. Today I’d guess that we’re…
Did Banks Act in Good Faith During the Bubble?
I admit that my statement yesterday that “ethics and morals should not even enter the conversation” was a bit of intentional editorial hyperbole intended to spur the discussion. Obviously it does make sense to have a conversation about the ethics of walking away, since that’s exactly what we did for 177 comments (so far). As…
On Misguided Ethics and Walking Away from a Mortgage
With the subject of “walking away” finally hitting the mainstream media in full force this weekend with a dedicated segment on Sunday’s 60 Minutes, it would appear that the idea of giving the keys back to the bank to get out of a financial death spiral continues to gain some serious traction. Of course, even…