Tag: mortgages
HUD is in hot water
The Office of Inspector General discloses that HUD sold $18 billion of mortgages without following its own rules… Another example of the dark side of federal involvement in the residential mortgage market… Matthew Goldstein of the New York Times has the story: HUD Ignored Procedures in Selling Distressed Mortgages, Report Says…
Has a belated bubble formed up north?
Canada missed the U.S. housing bubble of 2005 – 2007 because of tighter mortgage rules… As a result, Canadian housing sailed through the Financial Crisis… Subsequently, because of favorable demographics, including high immigration rates, Canadian housing has dramatically outperformed the U.S.… But markets adjust… Interesting essay by Ritholtz asset manager Ben Carlson entitled Canada’s Housing […]
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