April 19, 2008
I have read a lot about the subprime mortgage crisis, and found most of the explanations a little hard to get my head around.
A friend e-mailed me a link to a presentation (hosted on Google Apps), that I feel, does the best job of explaining the whole subprime mess.
Warning: The presentation does contain adult language, [...]
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January 29, 2008
The New York Times is reporting that sales of new homes fell by 26% last year. This is the biggest drop since the US government began keeping records in 1963.
Prices are also declining. The December median new home price declined 10.9% from a year ago, to $219,200. For the full year, new homes did manage [...]
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