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Federal Reserve Vice-Chairman Donald Kohn (voter) said it's not yet clear if house prices in the U.S. are close to finding a bottom . Speaking at the Brookings Institution in Washington, D.C., Kohn did say it's encouraging that the pace of declines is starting to abate in some markets. He noted...
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Fed Governor Randall Kroszner said rising mortgage foreclosures are an " urgent problem " and called on Congress to pass a Fannie Mae and Freddie Mac regulatory bill. Speaking at the NeighborWorks America Symposium in Cincinnati on Wednesday, Kroszner said foreclosures lead to a loss of one-fifth to...
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The Federal Reserve slashed benchmark interest rates by a half point in an agressive move to prevent the economy from moving into recession and to ease the pains of the housing bubble. The decision to cut the overnight federal funds rate from 5.25% to 4.75% was unanimous. This is the lowest level since...
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One of the most vocal proponents of the Chicken Little philosophy of real estate is John R. Talbott, who in 2003 wrote the best selling book The Coming Crash in the Housing Market . His new book Sell Now! The End of the Housing Bubble was published this year and has occasioned a lot of press and a certain...