You may recall the saga of William “Hoe” Brown, the chair of the Tampa Port Authority and big-dollar GOP fundraiser who also ran a filthy mobile-home slum on a commercial property that wasn’t zoned for rentals — at least until the Tampa Bay Times detailed the “unlivable conditions” in the trailers, which were filthy and […]

Imagine you’ve been asked to come up with a process to collect unpaid property taxes, and because you’re a terrible person you’ve decided that your process will be as painful as possible for the property owners while remaining at least tenuously legal. Do you think you could do better than Washington, D.C., where private investors […]

Good news, everyone! Romney/Ryan have no specific plans to ruin the housing sector at this point, which is probably a good thing, given that Mitt Romney has been pretty clear about his interest in ruining education and Paul Ryan has a very specific plan to ruin Medicare and Medicaid. So let’s just all respectfully disagree […]

The “new thing” in America is being desperately poor, until an audience of Tea Party sociopaths maniacally cheers your death outside the razor-wire fence of the hospital. But some of these uppity poors are so desperate that they’ve politely begged the rich monsters of Congress to forgive their many debts. HR 365 was introduced today, […]

Great news, everybody: After deliberately failing to help millions of American families stuck in vulture mortgages, the U.S. government is now giving those foreclosed homes to Wall Street for pennies on the dollar so that Wall Street can then rent the now-vacant foreclosures back to the same people pushed out during the Wall Street-caused housing […]

The last time so few new permits were issued for housing construction, it was 1961 — when American economists first began keeping records of the numbers of housing permits as an economic indicator. There are millions of unwanted, unsold and unfinished new housing units in this country. Who would buy these things, right? There are […]

GDP: WORST STATISTIC EVER  1:07 pm October 29, 2009

by Jim Newell

YOU ARE ALL RICH SO STOP COMPLAINING: The economy grew at a 3.5% pace last quarter, with cash-for-clunkers helping boost durable good spending 22.3% and a federal tax credit for homebuyers increasing housing spending 23.4%. Now that members of the upper-middle class all have new cars and homes, the dough should be trickling down to […]

Sad news! While sales of peasant dwellings have begun to creep upward due to the first-time home buyer tax credit, low mortgage rates, expanded FHA loans, and of course FIRE SALE PRICING on foreclosed homes, homes costing more than $750,000 have been difficult to move in this market. Wealthy home owners (or “the middle class,” […]

Well, here is some depressing news! The hot new housing sector in the US isn’t houses at all: it’s shacks. That’s because the kind of people who used to be your next-door neighbor if you lived in a sort of marginal neighborhood in a largeish city are now squatters living under bridges in Fresno. Hell, […]

Beware. John McCain’s BRUTAL NO-HOLDS-BARRED RESPONSE AD OF DEATH about TONY REZKO is out, and you better be SCARED. Ha ha just kidding, it sucks. The ad distills Obama’s naive but benign relationship with Rezko into a more familiar, corrupt politician’s narrative: (1) Rezko bought Obama a house, so (2) Obama returned the favor by […]

With all this talk about Chris Dodd and Kent Conrad getting SWEETHEART MORTGAGE DEALS giving them literally fractions of a percentage point off their mortgage interest and fees, it’s instructive to find out how many of America’s senators even have mortgages. A shocking number do not, which means they are either living in cardboard boxes […]