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Immigration Reform To Add $500 Billion In New Mortgages

Immigration Reform To Add $500 Billion In New Mortgages

A new study by the National Association of Hispanic Real Estate Professionals (NAHREP) estimates that immigration reform would create three million new home sales, $500 billion in additional mortgage originations, and $28 billion in new real estate commissions within five years of passage. These are huge numbers, enough to pressure real estate prices higher because […]

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Who Will Get The Real Mortgage Crisis Profits?

Who Will Get The Real Mortgage Crisis Profits?

The stock market has reached new highs, home sales are soaring while interest rates are in the pits. All of this would seem to suggest that the end of the mortgage crisis is here, but with weak employment gains and declining household incomes much of the public thinks the economic recovery is a myth. They’re […]

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Why Low Mortgage Rates Are A Problem

Why Low Mortgage Rates Are A Problem

Hardly a week passes when mortgage rates do not hit another historic low. This sounds really good – especially if you’re a borrower – but the reality is that microscopic loan rates suggest an economy which remains deeply troubled along with home values unlikely to rise. At the end of May Freddie Mac said “the […]

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American Chopper: Peace at Last?

American Chopper: Peace at Last?

In the final few minutes of American Chopper’s last episode of the season there was finally the hug between Paul Teutul, Sr. and Paul Teutul, Jr. Like Sam Cooke said, it’s been a long time coming…. As difficult and awkward as the situation is, the Teutuls at least had the courage to sit down and […]

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Happy New Year: Corporate Profits Up, Taxes Down

Happy New Year: Corporate Profits Up, Taxes Down

If you’re looking for hard economic news, this year-end mindbender from the Bureau of Economic Analysis ought to do the trick: corporate profits surged in the third quarter while corporate taxes fell. And more hard news: on average folks who work in financial services make 52 percent more than you do. “Corporate profits with inventory […]

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Occupy Movement Eyes Foreclosures & Squat-Ins

Occupy Movement Eyes Foreclosures & Squat-Ins

The Oakland branch of the Occupy movement has passed a resolution favoring the seizure of foreclosed and abondoned homes. There are a lot of homes available for squatters in the state because of unpaid mortgages and loans. California has the nation’s second-highest foreclosure rate according to RealtyTrac. Nevada ranks #1. While the Occupy movement started […]

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American Chopper — Management Doesn’t Get It

American Chopper — Management Doesn’t Get It

There’s probably no better show that reflects workplace tensions than Discovery Channel’s American Chopper. How do you deal with skilled workers when you’re the owner? Orange County Choppers is a success story, in the sense of something that grew over time to a business that included a custom-built “international headquarters” to construct and show bikes. […]

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How Steve Jobs Would Have Fixed The Mortgage Mess

How Steve Jobs Would Have Fixed The Mortgage Mess

The passing of Steve Jobs came too soon. It didn’t matter if you were a fan of Apple products or not, no one would deny that Jobs radically changed the worlds of computing, music, movie animation and product design — and all for the better. Our condolences to his family and friends. Unfortunately, there’s no […]

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American Chopper — Family Values, Family Conflict

American Chopper — Family Values, Family Conflict

In the usual scheme of things a foreclosure is a pretty big deal, but on the American Chopper TV series it’s not much more than a distraction. Instead of mortgages, the bigger issue is family dynamics — in this case a father and sons with a lot of visible and verbal collisions, inter-personal disputes which […]

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America’s Big Banks, America’s Financial Vietnam

America’s Big Banks, America’s Financial Vietnam

Three years ago the most-powerful instutitions in America were the nation’s largest banks and brokerages, Wall Street for short. While millions of people were losing their homes, their jobs and their savings, the nation’s elite extracted a $700 billion line-of-credit from Uncle Sam. Now Wall Street is our financial Vietnam. It’s broken. The old cures […]

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