Professor Kurt Eggert was quoted in a story in the Inland Valley Daily Bulletin about the slow down in homebuilding, “State homebuilders association warns of ‘homebuilding depression.’” In the story, he stated, “The other question is: How many people receiving that (proposed homebuyer tax) credit would’ve been purchasing homes anyway?” Professor Eggert says the problem
Professor Kurt Eggert was quoted in a story in Business Week about potential federal legislation that might allow borrowers to modify their home loans in bankruptcy, entitled “Does Citigroup Stand Alone? Industry Balks at Bankruptcy Bill.” In the piece, Professor Eggert stated, “Having bankruptcy cramdowns is a way of instilling discipline to subprime lenders.” Investors
Professor Kurt Eggert appeared on the Hugh Hewitt radio show where he discussed the housing market, and the probable push to new regulations desired by the Obama administration. Listen to Podcast…
Associate Dean Timothy Canova was quoted in an article in Business Week, entitled “Foreclosures: Washington to the Rescue?” addressing the current financial crisis. In the piece, Dean Canova stated, “There is a shift under way. Even people who normally would ideologically resist this course are beginning to realize the practical realities.” Read article…
Professor Kurt Eggert was quoted in an article in the Orange County Register entitled, “Foreclosures blanket O.C.: Banks seized more homes in nearly every ZIP in county in 3rd quarter.” Professor Eggert agreed with others quoted saying, “proposals he has reviewed to modify loans lack sufficient teeth. Perhaps the only thing that might work would
Associate Dean Timothy Canova authored an op-ed appearing in the Orange County Register entitled, “Reader Rebuttal: free markets.” In his piece, Dean Canova discusses the background leading up to the subprime lending crisis. He writes that, “…the financial deregulation of the Reagan era foreshadowed many more recent developments, including the hiding of worthless assets through
Professor Kurt Eggert was quoted in an article in Contra Costa Times, entitled, “$300B FHA rescue funds available to homeowners – with a hitch.” Professor Eggert, a former member of the Federal Reserve Board’s Consumer Advisory Council, said that the FHA program’s challenge is to “build in enough motivation for the financial industry to play
Professor Vernon Smith authored an op-ed entitled, “Surviving Until Next Time.” In his article, Professor Smith discusses the current crash of the U.S. housing bubble and its causes. However, despite the current crisis, Professor Smith expresses optimism for the future with, “Our brutalized economy will survive the crash – after a scare and some scars.”
Associate Dean Timothy Canova was quoted in an article in Metro Times, entitled “Foreclosure Fight: The Push for a Michigan Moratorium.” The article describes the push by Detroit protestors for an emergency moratorium on foreclosures in the wake of the $700 billion federal bailout. Earlier this year, Sen. Clarke (D-Detroit) introduced a senate bill which
Professor Vernon Smith authored an op-ed, entitled “There’s No Easy Way Out of the Bubble,” published in the Wall Street Journal. Professor Smith’s article discusses the crash in the housing market and the subsequent federal bailout, where he proposed, “Treasury action should focus on providing capital to individual banks and mortgage companies in return for