Mortgage Crisis

It's been a while since 2008, and a new crop of homeowners is colonizing the far-flung exurbs. Mostly foreclosed and even abandoned last time around, the exurbs are still a risky buy.
Jul 30, 2015   Bloomberg Business
General Growth Properties, the 2nd largest mall operator in the nation, declared bankruptcy this morning. The company was felled by mounting debt from short-term mortgages it used to expand its holdings.
Apr 16, 2009   The New York Times
Its political and financial leaders have long insisted that Canada was insulated from an American-style subprime mortgage crisis. However, a Globe & Mail study reveals that western Canada is facing an "alarming" rate of foreclosures.
Mar 17, 2009   The Globe and Mail
The revitalization of downtown Los Angeles took another hit this week, as real estate firm Meruleo Maddox Properties Inc., the largest private landowner in the area, revealed that it may have to file for bankruptcy protection.
Mar 16, 2009   The Wall St. Journal
In a recent feature in Time Magazine called 'Ten Ideas Changing the World Right Now,' no. 2 on the list is 'Recycling the Suburbs.'
Mar 15, 2009   Time
With roughly 10,000 foreclosures in the last two years, Cleveland has been hit hard by the economic crisis.
Mar 9, 2009   The New York Times
If the government bails out banks, it also better put aside money for structural reform that ensures the proper valuation of property. According to Elena Panaritis, a housing market driven by speculation catalyzed the recession in the first place.
Feb 25, 2009   Guardian
David Axelrod, senior White House aide to President Obama, announced this morning that the President is about to present a new plan for to halt foreclosures and stop falling real estate prices.
Feb 15, 2009   The Wall St. Journal
The latest figures show that one out of every 54 households were in foreclosure in 2008; analysts expect millions more foreclosures in the coming year.
Jan 16, 2009   Foreclosures up a record 81% in 2008
The question is no longer how to improve the suburbs, says Allison Arieff, but what we're going to do with all the leftover buildings and unfinished sites.
Jan 13, 2009   The New York Times
The latest figures show a dramatic drop in housing starts across the United States -- a sign, according to Dean Baker, that builders are having trouble securing credit.
Dec 29, 2008   Center for Economic and Policy Research