Economic View: Real Estate’s Collective Action Problem

New York Times | Jun. 24, 2012 (Opinion)

Lenders need to write down the amounts owed by homeowners, but the different stakeholders have been unable to agree on how to do this, though they share common interests. Full Story »

Posted by Jack Powers

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Subjects: U.S., Business, Living, Community
Topics: U.S. Economy, Housing
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Posted by: Posted by Jack Powers - Jun 24, 2012 - 11:02 PM PDT
Reviewed by: Jack Powers (review)
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Edited by: Jack Powers - Jun 24, 2012 - 11:02 PM PDT

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Jack Powers
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 by Jack Powers - Jun. 24, 2012

when the value of a home falls below the value of the mortgage debt — when it is underwater — a person is much more likely to default on the mortgage. And it is well ... More »

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