Word: recoverable
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Dates: during 2000-2009
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The "new normal" in housing is that home prices which have dropped 20% or more may drop further. Even under the best of circumstances, prices will not recover.
What housing "bulls" do not want to admit is that people who have underwater mortgages will often give up on the opportunity to keep their homes because they see no financial future in staying. They may never get any equity from their residences. They are probably better off to rent...
Another factor that will not allow home prices to recover is the reluctance of banks to lend money to anyone except people with sterling credit ratings. Those people are harder and harder to find during a recession when paying bills late may be the only way to pay them at...
Several economists are projecting the GDP growth in the U.S. may stay below 2% for three of four years and that 8% unemployment will become what they call "the new normal." Housing will not recover much if those assessments are true. Over the last decade the unemployment rate has been...
When I was writing my book about my brother, Boy Alone, I wished I had a story of hope and salvation. It is miracles that sell books. There seems to be an insatiable demand for narratives that end in triumph over an affliction: the cripple walks, the mute speaks, the...