MedWorm provides a medical RSS filtering service. Over 6000 RSS medical sources are combined and output via different filters. This feed contains the latest medical blog items that have been tagged with 'housing'. Sat, 03 Sep 2011 01:54:14 +0100 http://www.medworm.com/index.php?rid=5139703&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FIHjvbW8In5A%2F By Mark A. CalabriaThe Washington Post is reporting that President Obama has assigned his staff with the task of designing a new set of government guarantees behind the U.S. mortgage market. Although as the Post also reports the “approach could even preserve Fannie Mae and Freddie Mac.” That’s correct. Despite their role in driving the housing bubble and the already $160 billion in taxpayer losses, President Obama appears to be considering just putting the same failed system in place. Of course, we’ll be promised that it will all work better this time. Perhaps most offensive is that the Post reports that Obama “officials don’t want to punish the thousands of Fannie and Freddie employees who have specialized knowledge about the mortgage market.” Serious... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=5139703 Tue, 16 Aug 2011 16:04:20 +0100 5139703 http://www.medworm.com/index.php?rid=5028138&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FyZZPNvIJeBs%2F By Mark A. CalabriaIt’s probably never wise to inject oneself into the middle of a food fight, but since I think both sides actually have something right and something wrong, its been a worthwhile debate to follow.  That is the ongoing debate between Peter Wallison at the American Enterprise Institute and David Min at the Center for American Progress (at least we can all agree we love America) on the role of Fannie Mae (and Freddie Mae) in the financial crisis.  If you can’t guess, Peter says Fannie/Freddie caused the crisis, David says they didn’t. David makes an interesting point, one I’ve actually argued, in his latest retort.  That is, this wasn’t exclusively a housing crisis/bubble.  Other sectors, like commercial real estate, boomed and then went bus... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=5028138 Fri, 15 Jul 2011 12:40:43 +0100 5028138 http://www.medworm.com/index.php?rid=5028159&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FrISi8iwgfnw%2F By Mark A. CalabriaThe House of Representatives is scheduled this week, as early as today, to consider an extension and “reform” of the National Flood Insurance Program (NFIP), administered by FEMA. Since Hurricane Katrina in 2005, the NFIP has been about $18 billion in the hole. And this is from a program that only collects around $2 billion a year in premiums, which barely covers losses and expenses in a normal year. So make no mistake, the NFIP is still on course to cost the taxpayer billions more in the future. Even before Katrina, the Congressional Budget Office estimated that the NFIP was receiving a subsidy of close to a billion dollars a year. Under CBO’s optimistic projections, the House’s reform bill would increase NFIP revenues by about $4 billion over th... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=5028159 Tue, 12 Jul 2011 16:21:28 +0100 5028159 http://www.medworm.com/index.php?rid=4960040&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FHTG8W7uWsNE%2F By Mark A. CalabriaOne of the primary reasons the labor market remains weak is that construction activity is relatively low, resulting in a reduced demand for construction workers.  My friends in the building industry argue that because housing starts are at historic lows, we are actually not building enough housing.  While I’m open to that as a possibility, and believe it to be the case in select markets, nationally the evidence suggests otherwise. First of all, the monthly supply of new homes — that is the time that would be required to sell off the current inventory — is still relatively high at just under seven months, as shown in the following figure. Granted this is significantly below the 12 month peak we saw at the beginning of 2009. So without a doubt this number is mo... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4960040 Wed, 22 Jun 2011 17:10:18 +0100 4960040 http://www.medworm.com/index.php?rid=4921772&cid=t_107361_158_f&fid=38949&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FAgingWithGraceCareconnection%2F%7E3%2FqiIVIJBfNrE%2Faffordable-subsidized-housing-for.html While it’s no secret the Great Recession has been devastating to older Americans, it has also impacted the ability of U.S. communities to meet the needs of the aging population. A new report published by the National Association of Area Agencies on Aging reveals that at best, communities have managed to maintain the status quo for the past six years due to the decline in the overall economy and local government budgets. “Most communities have been able only to “hold the line”— maintaining policies, programs and services already established,” said the report. “Thus, they have not been able to move forward to the degree needed to address the nation’s current “age wave.” Using information gathered for the survey, n4a found financial funding shortages, transportation, an... Aging with Grace CareConnection blogs http://www.medworm.com/rss/comments.php?id=4921772 Fri, 10 Jun 2011 13:29:00 +0100 4921772 http://www.medworm.com/index.php?rid=4883556&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F4gQD5uysK4k%2F By Tad DeHavenLast week, a motion to proceed on a budget resolution introduced by Sen. Rand Paul (R-KY) was decisively defeated in the Senate (7 in favor, 90 opposed). Paul’s proposal would have balanced the budget in five years (fiscal year 2016) through spending cuts and no tax increases. Social Security and Medicare would not have been altered. Instead, the proposal merely instructed relevant congressional committees to enact reforms that would achieve “solvency” over a 75-year window. That’s hardly radical. Paul’s proposed spending cuts were certainly bold by Washington’s standards, but they weren’t radical either. For example, military spending would have been cut, in part, by reducing the government’s bootprint abroad. From the Paul proposal: The ability to ut... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4883556 Tue, 31 May 2011 19:14:12 +0100 4883556 http://www.medworm.com/index.php?rid=4872257&cid=t_107361_122_f&fid=34736&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FChannelN-PodcastsPoweredByOdiogo%2F%7E3%2FyMfsA_JSQ1s%2F Caleb Interview with Caleb Poirier about his experiences of depression, becoming homeless, and eventually founding Camp Take Notice, a tent city for people without homes in Ann Arbor, MI. Read more at InvisiblePeople.tv, and watch another interview with Poirier with more details about the camp, its peer support, principles, and progressive solutions. Very articulate and perceptive views that challenge stereotypes and conventions. The camp is a registered non-profit and accepts online donations. (Source: Channel N) Channel N blogs http://www.medworm.com/rss/comments.php?id=4872257 Fri, 27 May 2011 12:30:02 +0100 4872257 http://www.medworm.com/index.php?rid=4841440&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FtYpomVeivos%2F By Tad DeHavenA year-long investigation by the Washington Post into the Department of Housing & Urban Development’s HOME affordable housing program uncovered systemic waste, fraud, and abuse. The tale is yet another example of why the federal government should extricate itself from housing policy and allow the states to chart their own course. The piece is lengthy and should be read by interested readers in its entirety, so I’ll just excerpt the Post’s findings: Local housing agencies have doled out millions to troubled developers, including novice builders, fledgling nonprofits and groups accused of fraud or delivering shoddy work. Checks were cut even when projects were still on the drawing boards, without land, financing or permits to move forward. In at least 55 cases, dev... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4841440 Tue, 17 May 2011 18:07:26 +0100 4841440 http://www.medworm.com/index.php?rid=4842015&cid=t_107361_158_f&fid=38949&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FAgingWithGraceCareconnection%2F%7E3%2FPvO4sLAbBI8%2Fseniors-are-staying-in-their-homes.html Great information from our friends at Senior Housing News, written by Alyssa Gerace A March 2011 report from Harvard University’s Joint Center for Housing Studies shows that many seniors who had planned to retire and move to a different home deferred that decision after the recent financial crisis took a toll on both the equity in their homes and their retirement accounts. Mobility rates, or the rate at which households report having moved, have declined for the senior population as a result. The report states that mobility rates have been trending downward since the mid-1980s, and that the chance of a homeowner moving any given year decreased from about 10% (between 1986-87) to 5.5% for 2007-08. “The 2008-2009 national economic recession further accelerated the downward trend in m... Aging with Grace CareConnection blogs http://www.medworm.com/rss/comments.php?id=4842015 Tue, 17 May 2011 13:52:00 +0100 4842015 http://www.medworm.com/index.php?rid=4820812&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FjmWaKEP5nYU%2F By Mark A. CalabriaToday the Bureau of Labor Statistics released the consumer price index (CPI) numbers for April, which generally gives us the best picture of inflation.  The headline number is that between April 2010 and April 2011, consumer prices increased 3.2 percent, as measured by the CPI.  Obviously this is well above 2 percent, the number Ben Bernanke defines as “price stability.”  Setting aside the reasonableness of that definition, there is definitely some mild inflation in the economy. Also of interest in the April numbers is that if you subtract housing, which makes up over 40% of the weight of the CPI, then prices increased 4.2 percent — twice Bernanke’s measure of stability.  What has always been problematic of the housing component is that its large... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4820812 Fri, 13 May 2011 18:50:38 +0100 4820812 http://www.medworm.com/index.php?rid=4789220&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2Fl6rZ5DLuA-4%2F By Mark A. CalabriaLast week I participated on a panel on federal rental housing policy, organized by Harvard’s Joint Center for Housing Studies in conjunction with the release of their new report on conditions in the rental market.  In their defense, the report does attempt to avoid offering policy prescriptions.  But the report does come pretty close to suggesting that we spend more on federal rental housing assistance.  In the post-housing bubble  environment, many, myself included, have dared suggest that there’s nothing wrong with someone being a renter, and that maybe we pushed too many into homeownership. But saying we overdid homeowneship is not the same as saying we ignored rental.  In fact the federal government has spent massive amounts on rental housing, yet ac... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4789220 Wed, 04 May 2011 18:01:28 +0100 4789220 http://www.medworm.com/index.php?rid=4768270&cid=t_107361_158_f&fid=38949&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FAgingWithGraceCareconnection%2F%7E3%2FovKalgJ1Rs0%2Ffree-internet-referral-services-come.html Washington will be the first state to clamp down on the explosive growth of elder care referral businesses according to a report from the Seattle Times. The providers help guide families through a range of options for their loved ones that can include assisting living or other senior housing that best fits their needs for free. In return, these companies can be paid as much as $3,500 per person by the facilities for providing them with a client. Legislation sent to Governor Chris Gregoire will require referral companies to follow strict standards that include written disclosures of their commission rates. Washington is the first state to pass a comprehensive law to rein in elder-care referral companies, according to research by AARP, a senior organization that supported the bill. Across... Aging with Grace CareConnection blogs http://www.medworm.com/rss/comments.php?id=4768270 Fri, 29 Apr 2011 15:51:00 +0100 4768270 http://www.medworm.com/index.php?rid=4693265&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2Fuh40eOjEgtc%2F By Mark A. CalabriaEarlier this week I repeatedly heard the claim that if the federal government does not guarantee credit risk in the mortgage market, foreigners won’t buy U.S. mortgage-related debt.  Before we test whether that claim is true, let’s first determine just how important are foreign investors in the U.S. mortgage market. For the most part, foreign investors do not hold U.S. mortgages directly, but either hold Fannie and Freddie debt and mortgage-backed securities (MBS) or hold private-label MBS.  As the private-label securities lack a government guarantee, we can ignore that segment of the market.  The chart below depicts the percentage share of foreign ownership of these securities in recent years: The chart illustrates that, at times (particularly around ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4693265 Fri, 08 Apr 2011 21:21:02 +0100 4693265 http://www.medworm.com/index.php?rid=4642575&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F0-9tGgFrTbk%2F By Daniel J. MitchellA previous post of mine at International Liberty addressed the debate over whether Republicans should trim the IRS's budget. The following case study should convince everyone that the answer is a resounding yes. First, some background from a Joe Nocera column in the New York Times. The federal government made a rather troubling decision a few years ago to investigate, prosecute, and ultimately imprison a random home-loan borrower named Charlie Engle for the crime of mortgage fraud. Mr. Engle is far from blameless in this saga, but I noted in another post that it was rather odd that the government would target a nobody while letting all the big fish swim away. This episode certainly paints a picture of a government that has one set of rules for ordinary people, but a... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4642575 Mon, 28 Mar 2011 12:08:00 +0100 4642575 http://www.medworm.com/index.php?rid=4636670&cid=t_107361_158_f&fid=38949&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FAgingWithGraceCareconnection%2F%7E3%2FJ6HVw1UZWqw%2Fsharing-good-news.html Aging with Grace is proud to announce we have been ranked #22 by  Seniors for Living as one of the Top 100 Senior & Boomer Blogs & Websites in the category of  All Things Aging. We are honored to share this category with: 20.  New Old Age Blog 21.  AARP 22.  Aging with Grace 23.  RetireLife 24.  Love to Know: Seniors View the entire list (Source: Aging with Grace CareConnection) Aging with Grace CareConnection blogs http://www.medworm.com/rss/comments.php?id=4636670 Sat, 26 Mar 2011 03:45:00 +0100 4636670 http://www.medworm.com/index.php?rid=4606038&cid=t_107361_140_f&fid=39203&url=http%3A%2F%2Fdawnwillis.wordpress.com%2F2011%2F03%2F17%2Fevicted-watch-this-piece-of-film-remind-govt-why-this-cant-keep-happening%2F Link to True Vision film: http://www.truevisiontv.com/evictedfilmlink/index.html     ALSO FROM TRUE VISION PRODUCTIONS: Zimbabwe Update Note from Brian Woods: If you saw Zimbabwe’s Forgotten Children last year, then set your Sky+ to record the Update Thursday 17th on BBC TWO at 11.20pm. It’s a cutdown of the original, followed by a wonderful update on how the kids lives have been transformed by viewers’ donations since we finished the film. Heartwarming stuff (but better recorded and watched at a more civilised hour!)   Filed under: News, Views, All Topics Tagged: DWP, Eviction, Homelessness, Housing Benefit, Poverty, Shelter (Source: Dawn Willis sharing the News and Views of the Mentally Wealthy) Dawn Willis sharing the News and Views of the Mentally Wealthy blogs http://www.medworm.com/rss/comments.php?id=4606038 Thu, 17 Mar 2011 08:31:43 +0100 4606038 http://www.medworm.com/index.php?rid=4512380&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FShcdYRfdZUs%2F By Mark A. CalabriaThe Washington Post reported today that the increase in January home sales was driven mainly by an increase in all-cash sales.  Whereas I would have thought increasing sales, especially driven by cash buyers, was a sign of market strength; the Post and the National Association of Realtors portrayed this as a bad thing.  NAR chief economist Lawrence Yun went so far as to call this portion of the market "unhealthy." Of course, what NAR and the rest of the real estate lobby were complaining about was that home sales and prices were not being driven by easy credit.  For the housing industry, it would seem that the "correct" house price is the price that is propped up by loose credit.  Yun goes on to say that "investors are taking the advantage of conditions to purchas... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4512380 Wed, 23 Feb 2011 22:15:08 +0100 4512380 http://www.medworm.com/index.php?rid=4424216&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2Fvkx4wny6XWE%2F By Tad DeHavenThat’s what the Department of Housing and Urban Development’s recently retired inspector general had to say in response to rampant malfeasance and mismanagement at public housing authorities uncovered by a joint investigation by ABC News and The Center for Public Integrity. From the report: The problems are widespread, from an executive in New Orleans convicted of embezzling more than $900,000 in housing money around the time he bought a lavish Florida mansion to federal funds wrongly being spent to provide housing for sex offenders or to pay vouchers to residents long since dead. Despite red flags from its own internal watchdog, HUD has continued to plow fresh federal dollars into these troubled agencies, including $218 million in stimulus funds since 2009, the joint inv... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4424216 Tue, 01 Feb 2011 14:02:30 +0100 4424216 http://www.medworm.com/index.php?rid=4419112&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F8PbpRgs3Pk8%2F By Tad DeHavenFreshman Sen. Rand Paul (R-KY) has raised the bar in Washington by releasing a bill that would make substantial, specific, and immediate cuts in federal spending. While policymakers on both sides of the aisle have largely paid lip service to stopping Washington’s record run of fiscal profligacy, Paul’s proposal makes good on his campaign promise to seriously tackle the federal government’s bloated budget. Paul’s bill would target $500 billion in cuts for fiscal 2011 alone. While audacious by Washington standards, cutting federal spending by that amount would still leave us with a projected $1 trillion deficit this year. Nonetheless, the federal government’s scope would be dramatically curtailed, which would pay dividends in coming years as the economy is unshackled ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4419112 Mon, 31 Jan 2011 18:49:44 +0100 4419112 http://www.medworm.com/index.php?rid=4394764&cid=t_107361_158_f&fid=38949&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FAgingWithGraceCareconnection%2F%7E3%2F7xvf6tFioHI%2Freverse-mortgages-took-it-on-chin-in.html Reverse mortgages took it on the chin in 2011. During the year, reverse mortgages volumes have suffered as a result of the continuation of declining home prices, regulatory changes and headline risk associated with high costs and stories where seniors have been taken advantage of as part of the process. Final numbers released from Reverse Market Insight show that volumes 35% during 2010, with 72,748 units being endorsed in 2010. The data for 2010 shows a significant drop in active lenders leading to increasing market share and volumes for lenders who have survived during the last few years. Volumes in December show that Wells Fargo remained the top lender by unit volume followed by Bank of America and MetLife rounding out the top 3.Read full report... (Source: Aging with Grace CareConnecti... Aging with Grace CareConnection blogs http://www.medworm.com/rss/comments.php?id=4394764 Mon, 24 Jan 2011 14:30:00 +0100 4394764 http://www.medworm.com/index.php?rid=4349498&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FGak7QmeY6kU%2F By Tad DeHavenIn a recent post on earmarks and federal grants, I cited the crazy example of HUD’s Community Development Block Grant program funding facade renovations for a wine bar in Connecticut. Now a Michigan newspaper reports that Bell’s Brewery in Kalamazoo is looking for $220,000 in CDBG money to expand its facilities. I consider Bell’s to be one of the finest breweries in the United States. Bell’s desire to expand its production facilities reflects its success in getting people to part with their money voluntarily in exchange for their products. Now federal taxpayers, whether they like Bell’s or beer, could effectively be forced to give their money to Bell’s. There are over 1,500 craft breweries in the United States. Those breweries must pay federal taxes, so if Bell&#... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4349498 Fri, 14 Jan 2011 17:22:26 +0100 4349498 http://www.medworm.com/index.php?rid=4343355&cid=t_107361_158_f&fid=38949&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FAgingWithGraceCareconnection%2F%7E3%2FLcSuYRumiTc%2Fboomers-and-seniors-digging-into.html Baby Boomers and seniors in the United States are taking a more pragmatic approach to their housing choices as an effect of the economic downturn according to a new study released today. A joint study by the 50+ Housing Council of the National Association of Home Builders (NAHB) and the MetLife Mature Market Institute reveals that home design considerations have taken a back seat as financial matters have been more prominent in home purchase process for 55+ buyers. The new study, "Housing Trends Update for the 55+ Market,", explores households living in active adult communities, either age-qualified active adult communities where at least one resident must be age 55+, other non-age-qualified 55+ owner-occupied communities (not explicitly restricted to 55+ households but nevertheless occupi... Aging with Grace CareConnection blogs http://www.medworm.com/rss/comments.php?id=4343355 Thu, 13 Jan 2011 14:35:00 +0100 4343355 http://www.medworm.com/index.php?rid=4313989&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FPremGoVsvgM%2F By Daniel J. MitchellThe news is going from bad to worse for Ireland. The Irish Independent is reporting that the Swiss Central Bank no longer will accept Irish government bonds as collateral. The story also notes that one of the world’s largest bond firms, PIMCO, is no longer purchasing debt issued by the Irish government. And this is happening even though (or perhaps because?) Ireland received a big bailout from the European Union and the International Monetary Fund (and the IMF’s involvement means American taxpayers are picking up part of the tab). I’ve already commented on Ireland’s woes, and opined about similar problems afflicting the rest of Europe, but the continuing deterioration of the Emerald Isle deserves further analysis so that American policy makers h... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4313989 Wed, 05 Jan 2011 17:47:36 +0100 4313989 http://www.medworm.com/index.php?rid=4245284&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FBiGbKfoTtNo%2F By Walter OlsonFrom time to time my colleague David Boaz posts about the many ongoing ways in which the economy of Washington, D.C. continues to outpace that of the rest of the country, thanks to a well-paid and layoff-resistant workforce of federal employees and contractors, a thriving lobbying sector, and so forth. Thus David noted this week that the Washington, D.C. metro area has now attained the highest family median income of any major city, and last month that, according to Census Bureau figures analyzed by Newsweek, “seven of the 10 richest counties in America, including the top three, are in the Washington area.” I thought I’d add three more data points to this picture: Even as most of the country remains mired in serious housing recession, the capital has boun... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4245284 Thu, 09 Dec 2010 21:48:46 +0100 4245284 http://www.medworm.com/index.php?rid=4233169&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2Fjj2GEDCeKvc%2F By Mark A. CalabriaA constant narrative of the financial crisis is that banks out-smarted the government by taking excessive risks, and that if only we had empowered regulators, the whole crisis would have been avoided.  The truth, however, is that government was often the driver of excessive risk-taking, and nowhere is that more true than in the mortgage market. One of the worst offenders has been the Federal Housing Administration (FHA).  Even today, one can get an FHA backed loan with only a 3.5% downpayment.  After the financing of seller concessions, the borrower can leave the closing table with zero, or even negative, equity.  FHA will even offer these low equity loans to subprime borrowers, those with the worst credit history.  If there’s anything to be learned from the f... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4233169 Mon, 06 Dec 2010 12:12:57 +0100 4233169 http://www.medworm.com/index.php?rid=4151763&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FGD5wll0ie5M%2F By Chris EdwardsA Washington Post editorial today discusses the National Academy of Sciences “Fiscal Future” study. The NAS report modeled four possible tax and spending paths for the nation over the next 70 years.  I was one of the NAS report’s co-authors. The Post focuses on the “low spending and revenue” path, which would keep federal revenues below about 19 percent GDP and keep spending below about 21 percent of GDP. The Post argues that both tax hikes and spending cuts will be needed to fix the government’s budget problem because the “pain and sacrifice” would be too large if we just cut spending, as under this “low” path. But the Post’s conclusion is based on faulty one-sided accounting, only considering the re... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4151763 Mon, 08 Nov 2010 18:24:49 +0100 4151763 http://www.medworm.com/index.php?rid=4139188&cid=t_107361_86_f&fid=36669&url=http%3A%2F%2Ffadelibrary.wordpress.com%2F2010%2F11%2F05%2Fresponse-to-the-treasury-committee-inquiry-on-the-spending-review-to-inform-treasury-committee%25e2%2580%2599s-inquiry-on-decision-making-and-other-aspects-of-the-recent-spending-review%2F Title: Response to the Treasury Committee Inquiry on the Spending Review: To inform Treasury Committee’s inquiry on decision-making and other aspects of the recent Spending Review Skinny: Response to the Treasury Committee’s call for evidence on the spending review. The Joseph Rowntree Foundation is committed to informing changes in policy and practice based on evidence from research, from practical demonstration work and from the lives of people directly affected by social issues and problems. The response to the Treasury Committee’s inquiry on the spending review registers their concern that the spending review was not sufficiently based on available evidence about poverty and disadvantage in the UK. Publisher: Joseph Rowntree Foundation Size of Publication: 7 Published: 04/11/201... Fade Library blogs http://www.medworm.com/rss/comments.php?id=4139188 Fri, 05 Nov 2010 15:57:23 +0100 4139188 http://www.medworm.com/index.php?rid=4133682&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FX7xp36z6zwo%2F The objective of QEII would be to reduce long-term interest rates, with the belief that such a reduction would spur investment and consumption, thus increasing employment.   Estimated impacts on rates range from zero to 80 basis points (80/100s of one percent).   Given the large excess reserves in the banking system, it is likely that much of the monetary stimulus provided by QEII will simply be added to bank reserves, which would correspondingly have little to no impact on either lending or interest rates.  So its likely that we will get very little bang out of QEII. Even if QEII did lower rates as much as some Fed leaders claim, the impact would still be relatively small, under one percent.  Given that mortgage rates have already fallen by that much over the last six months... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4133682 Wed, 03 Nov 2010 15:43:39 +0100 4133682 http://www.medworm.com/index.php?rid=4119365&cid=t_107361_122_f&fid=34736&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FChannelN-PodcastsPoweredByOdiogo%2F%7E3%2F14cXS5N-tYg%2F Trapped: Mental Illness Inside America’s Prisons A beautiful and harrowing short film by documentary photographer Jenn Ackerman, examing conditions inside the Correctional Psychiatric Treatment Unit of the Kentucky State Reformatory. (Source: Channel N) Channel N blogs http://www.medworm.com/rss/comments.php?id=4119365 Fri, 29 Oct 2010 20:39:38 +0100 4119365 http://www.medworm.com/index.php?rid=4086462&cid=t_107361_136_f&fid=37852&url=http%3A%2F%2Fdonnatrussell.com%2F2010%2F10%2F20%2Fbanks-to-underwater-homeowners-dont-get-comfy%2F New cartoon by Trussell & Trussell on Politics Daily. Banks to Underwater Homeowners: Don’t Get Comfy. Missed out on Katrina? Now Katrina is coming to you!     Filed under: Politics Daily Tagged: banks, foreclosure, housing crisis, humor, mortgage, political cartoon, robert donna trussell, underwater (Source: Donna Trussell) Donna Trussell blogs http://www.medworm.com/rss/comments.php?id=4086462 Wed, 20 Oct 2010 16:52:51 +0100 4086462 http://www.medworm.com/index.php?rid=4018160&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FyR11yQMw_ls%2F By Mark A. CalabriaAn argument often heard for keeping Fannie Mae and Freddie Mac, or some sort of subsidy for mortgages, is the desire to keep the 30 year fixed rate mortgage “affordable.” The 30 year fixed certainly has some merits – which borrowers should be willing to pay for – but it also has the downside of reducing the impact of monetary policy in stabilizing the economy. Generally interest rates go down in a recession and up in an expansion.  Part of this is the reaction of the Federal Reserve, which tends to cut rates in a recession, but part is also the fact that the demand for credit also declines in a recession and increases in an expansion. If borrowers moved to adjustable rate mortgages, then in recessions they would likely see a reduction in their mo... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4018160 Thu, 30 Sep 2010 15:43:19 +0100 4018160 http://www.medworm.com/index.php?rid=3965396&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FIcm7T-_dWWs%2F By Daniel GriswoldIn the 2006 and 2008 election cycles, Republican candidates for Congress tried to save their bacon by running against immigration. In 2010, according to the Wall Street Journal this morning, a number of Democrats are trying to save their seats by running against trade. I predict the Democratic tactic will be as fruitless as the Republican effort before it. Democratic incumbents have been running TV ads accusing their Republican challengers of favoring trade agreements, outsourcing, and tax breaks for U.S. companies that invest abroad. The charges are wrong on substance, as I address at length in my 2009 Cato book Mad about Trade: Why Main Street America Should Embrace Globalization, but running against trade has not proven to be a vote getter, either. It is difficult to f... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3965396 Mon, 13 Sep 2010 16:11:00 +0100 3965396 http://www.medworm.com/index.php?rid=3902880&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FJPH4gelW8Ig%2F A couple of weeks ago, David Boaz discussed the Old Testament story in which the people of Israel ask Samuel for a king to rule over them. God’s instructions to Samuel can be summed up as “tell them to be careful of what you wish for.” David brought up the passage in the context of civil liberties, but the story’s lesson also applies to economic liberties. Over the past eighty years, the public has become conditioned in times of crisis to turn to their rulers and demand that they “do something.” That the rulers had a hand in the crisis is all too often either unrecognized or it’s a secondary concern. As Robert Higgs demonstrated in his seminal book, Crisis and Leviathan, the rulers will willingly oblige the public and, in the process, come away with more power and control tha... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3902880 Wed, 25 Aug 2010 21:05:04 +0100 3902880 http://www.medworm.com/index.php?rid=3880828&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FgrG-A9SYFKA%2F Yesterday the Treasury and HUD hosted a “Conference on the Future of Mortgage Finance.”  It was an invite-only of Washington insiders.  Somehow I found myself on the invite list, which was almost enough to make me believe that the Administration was finally serious about reforming Fannie and Freddie. After getting over the nausea of being in a room full of people who I personally knew bore some responsibility for the mess we are in, I was then shocked that, compared to the rest of the room, Treasury Secretary Geithner came across as the radical.  On one hand Geithner was very clear that the Administration was going to push for some sort of government guarantee, but also that the current structure, particularly Fannie and Freddie, were broken.  He also went as far as admitti... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3880828 Wed, 18 Aug 2010 18:50:52 +0100 3880828 http://www.medworm.com/index.php?rid=3753761&cid=t_107361_86_f&fid=36669&url=http%3A%2F%2Ffadelibrary.wordpress.com%2F2010%2F07%2F14%2Ftelling-the-story-of-hartfields-a-new-retirement-village-for-the-twenty-first-century%2F This study tracked key decisions made, and challenges faced, as the scheme developed. Publisher: Joseph Rowntree Foundation Size of Publication: 42p Published: 21/04/2010 Filed under: Community Services, Culture, Grey Literature, Housing, Local Authorities, Quality of Life, Regeneration Tagged: Community, Culture, GPs, Healthy lifestyles, Joseph Rowntree Foundation, Residence (Source: Fade Library) Fade Library blogs http://www.medworm.com/rss/comments.php?id=3753761 Wed, 14 Jul 2010 09:05:31 +0100 3753761 http://www.medworm.com/index.php?rid=3737139&cid=t_107361_122_f&fid=34736&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FChannelN-PodcastsPoweredByOdiogo%2F%7E3%2Fl4sKow9DX-U%2Frecovery-in-vancouver.html Just You, Me, and God: Recovery in the Downtown East Side Two women, including a winner of a 2009 Courage to Come Back Award from Coast Mental Health, talk about their recovery from addiction and mental health issues. Their recovery is extra challenging since they both continue to live in the Downtown East Side, a neighbourhood known for open drug use. More info. (Source: Channel N) Channel N blogs http://www.medworm.com/rss/comments.php?id=3737139 Thu, 08 Jul 2010 12:30:29 +0100 3737139 http://www.medworm.com/index.php?rid=3683592&cid=t_107361_87_f&fid=36050&url=http%3A%2F%2Fblisstree.com%2Flive%2Fsmell-test-fragrance-company-scenting-low-income-housing-to-make-residents-happy%2F Scent-branding is part of the marketing plan for several retail outlets, hotels, and even casinos. Just step into a W Hotel and note the eerily similar smell to the last one you visited. Like color and light, smells can evoke emotions, making consumers happy and thus more likely to spend, return, and build brand loyalty. But one scent company is actually applying this to a living space: International Flavors and Fragrances has created a special scent that they’re planning to pump into a low-income housing building in the South Bronx, New York, filling the hallways and common spaces with – we kid you not – L’Eau Vert du Bronx du Sur. The “Green Water of South Bronx” is meant to evoke happiness and optimism for the 200 building residents. We wouldn’t necessa... Breastfeeding 1-2-3 blogs http://www.medworm.com/rss/comments.php?id=3683592 Mon, 21 Jun 2010 19:37:31 +0100 3683592 http://www.medworm.com/index.php?rid=3671667&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FprkUzeHU1-8%2F By Gerald P. O'DriscollTwo articles in today’s Wall Street Journal deal with the housing sector.  They complement each other. Journal reporters note that “Industry Speeds Recovery, And Housing Slows It Down.”  The story notes that that “ground-breaking for new homes and applications for building permits both plunged last month.”  Meanwhile, U.S. industrial output showed strong growth in May. Bravo for both numbers, which are inter-related.  The headline (over which reporters have no control) reflects conceptual confusion.  U.S. industrial production is strong at least in part because construction of new homes is weak.   The bloated home sector is no longer absorbing a disproportionate share of economic resources.  The new homeowners tax credit has m... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3671667 Thu, 17 Jun 2010 19:08:14 +0100 3671667 http://www.medworm.com/index.php?rid=3671668&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2Fx6Jjj5XVZWU%2F By David BoazThe state of Maryland wants more people to have affordable housing — at least if they’ve already got it. Concerned that the owners of mobile home parks might sell the land for other uses, “affordable housing advocates” succesfully lobbied Maryland legislators this year for legislation that, they say, discourages owners of mobile-home parks from selling their properties. If the landowner does sell, it provides the homeowner with some protection. Under the law, which was passed earlier this year, a mobile-home park owner who wants to sell and change land use must give written notification to the residents and provide displaced homeowners with a relocation plan and relocation assistance that equals 10 months’ worth of rent. The legislation applies to... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3671668 Thu, 17 Jun 2010 18:42:51 +0100 3671668 http://www.medworm.com/index.php?rid=3671670&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FEMC2kCMdGQs%2F By Tad DeHavenIn a recent speech to real estate interests, former Clinton HUD secretary Henry Cisneros preposterously claimed that the recent housing meltdown “occurred not out of a governmental push, but out of a hijacking of the homeownership process by some unscrupulous interests.” The only criticisms Cisneros could muster for the government’s housing policies over the past 20 years were that regulations weren’t tough enough and it should have focused more on rental subsidies. The reality is that Cisneros-era HUD regulations and policies directly contributed to the housing bubble and subsequent burst as a Cato essay on HUD scandals illustrates: Cisneros’s HUD pursued legal action against mortgage lenders who supposedly declined higher percentages of loans for minorities than ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3671670 Thu, 17 Jun 2010 17:50:21 +0100 3671670 http://www.medworm.com/index.php?rid=3648472&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FYrCpVrDzsKE%2F By Mark A. CalabriaToday begins the televised political theatre that Barney Frank has been waiting months for:  the first public meeting of the House and Senate conferees on the two financial regulation bills.  While there are a handful of important differences between the House and Senate bills, these differences are overshadowed by what the bills have in common.  The most important, and tragic, commonality is that both bills ignore the real causes of the financial crisis and focus on convenient political targets. As our financial system was brought to its knees by an exploding housing bubble, fueled by government mandates and distortions, one would think, just maybe, that Congress would roll back these distortions.  Despite their role in contributing to the crisis and the size of ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3648472 Thu, 10 Jun 2010 15:35:23 +0100 3648472 http://www.medworm.com/index.php?rid=3599359&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2Fasg8hAKKiiM%2F By Walter OlsonThe California Department of Fair Employment and Housing has agreed to stop investigating citizens on the theory that their political expression in and of itself constitutes a potential violation of laws against housing discrimination. The concession came in a settlement with Julie Waltz, whom it had dragged through an investigation for publicly opposing the placement of subsidized group homes in and near her Norco, Calif. residence. A news release from the Center for Individual Rights: During the year-long investigation, state investigators told Waltz that her speech violated state fair housing laws, requested that she refrain from her speech activities, and threatened her with prosecution. An investigator also told her that the investigation would end if she removed signs ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3599359 Tue, 25 May 2010 19:12:24 +0100 3599359 http://www.medworm.com/index.php?rid=3556070&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F0rRaylTbIcQ%2F By Walter OlsonCalifornia just adopted effective next year a requirement that all new one- and two-family dwellings include indoor sprinkler systems. Other states are debating similar mandates, spurred by changes to national building code standards. Earlier legal mandates have required the inclusion of smoke alarms and carbon monoxide alarms, but the cost of those devices is relatively minor, whereas full-blown sprinkler systems add measurably to the cost of a new home, as well as posing challenges in such areas as maintenance, aesthetics, and risk of property damage through accidental activation. It will surprise not a single reader of these columns, I suspect, to learn that the fire sprinkler industry has been a major force in pushing the new mandate. As for the opposition, home builders... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3556070 Wed, 12 May 2010 14:29:47 +0100 3556070 http://www.medworm.com/index.php?rid=3546843&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FKsX_kk5f6ss%2F By David BoazBack in 1996 George Liebmann wrote in Regulation about how “Zoning makes it more difficult to keep aged parents close by and care for them.” He recommended that “Duplex homes and accessory apartments should be permitted in all new residential construction. Housing options such as these allow elderly persons to live near their adult children without intruding on their children’s privacy.” (“Modernization of Zoning,” pp. 71, 75) Now the Washington Post reports The Rev. Kenneth Dupin, who leads a small Methodist church [in Salem, Virginia], has a vision: As America grows older, its aging adults could avoid a jarring move to the nursing home by living in small, specially equipped, temporary shelters close to relatives.So he invented the ME... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3546843 Sat, 08 May 2010 17:53:43 +0100 3546843 http://www.medworm.com/index.php?rid=3533824&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F349QB7oDbkg%2F By Tad DeHavenOne of the justifications members of Congress offer for earmarking is that the Constitution gives the legislative branch the “power of the purse.” Congressional earmarkers often denigrate the executive branch’s inability to effectively allocate funds. But just because the federal bureaucracy does an abysmal job of spending taxpayer money, it doesn’t mean lawmakers would do any better. The following example out of Florida illustrates why lawmakers are just as likely as bureaucrats to misspend taxpayer money. According to the St. Petersburg Times, a developer who has never had a successful project was able to convince four members of Florida’s congressional delegation into supporting a $500,000 earmark for a Tampa affordable housing project. The developer had already ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3533824 Tue, 04 May 2010 16:09:36 +0100 3533824 http://www.medworm.com/index.php?rid=3490617&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FMzVJcCMSmrk%2F By Tad DeHavenPeter Wallison calls attention to President Obama’s amnesia regarding events that precipitated Fannie Mae and Freddie Mac’s collapse. Writing in the Wall Street Journal, Wallison points out that in 2005 then-Senator Obama joined with his Democratic colleagues in stopping legislation that would have helped rein in the government-sponsored housing duo’s risky behavior: The bill would have established a new regulator for Fannie and Freddie and given it authority to ensure that they maintained adequate capital, properly managed their interest rate risk, had adequate liquidity and reserves, and controlled their asset and investment portfolio growth. These authorities were necessary to control the GSEs’ risk-taking, but opposition by Fannie and Freddie—then the most p... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3490617 Wed, 21 Apr 2010 12:51:32 +0100 3490617 http://www.medworm.com/index.php?rid=3482883&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FyAt8AlivMAo%2F By Mark A. CalabriaSeveral commentators have reacted to Senator McConnell’s floor statement regarding the Dodd bill as a defense of “doing nothing”.  And accordingly argue that such a position would be, in the words of Simon Johnson, both dangerous and irresponsible.  This familiar canard is based upon the oft repeated assertion that the failure of Lehman proved that we cannot simply let large financial companies enter bankruptcy. The simple, but important, fact is that we have no idea what would have happened had we let AIG and Bear go into bankruptcy proceedings.  Nor do we know what would have happened if Lehman had been saved.  Macroeconomics does not have the luxury of running natural experiments to determine the impact of a corporate failure.   Scholars have a... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3482883 Mon, 19 Apr 2010 12:33:03 +0100 3482883 http://www.medworm.com/index.php?rid=3475813&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FbYTh49sJfuA%2F By Mark A. CalabriaIf there is one, almost universal, point of agreement on drivers of the financial crisis, it is that our financial system simply had way too much leverage.  Much of that discussion has focused on financial institutions, leading many to suggest increased capital standards, so that banks have more equity and less debt.  Often lost in the mix is the excessive leverage on the part of home owners. We know, for instance, that the number one predictor of mortgage default is whether the borrower has equity or not.  And while that should lead us to debate appropriate downpayment requirements, at least when the government backs the mortgage, we should not forget that our tax code encourages excessive leverage on the part of home buyers.  And there’s no bigger incentive t... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3475813 Thu, 15 Apr 2010 16:19:22 +0100 3475813 http://www.medworm.com/index.php?rid=3424836&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FqLrVGKVqc9Y%2F By Tad DeHavenThe Federal Housing Administration is heading toward a taxpayer bailout, yet the president’s latest mortgage modification plan would further increase the agency’s exposure to risky mortgages. Mark Calabria calls it a “Backdoor Bank Bailout.” The administration’s plan would encourage borrowers who owe more than their house is worth to refinance into FHA-insured mortgages. Therefore, the risk of a future foreclosure on these mortgages would fall to the government and taxpayers instead of private lenders. A recent study from economists at New York University found that the FHA is underestimating its risk exposure. One of the problems is that the FHA isn’t properly accounting for the risk to underwater FHA mortgages that have been refinanced into new FHA mortgages. So... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3424836 Tue, 30 Mar 2010 18:00:51 +0100 3424836 http://www.medworm.com/index.php?rid=3403865&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FQDepYd-vmKQ%2F By Tad DeHavenAt Tuesday’s congressional hearing on the future of Fannie Mae and Freddie Mac, Rep. Barney Frank (D-MA) said that “It’s a mistake for the government heavily to subsidize homeownership.” Coming from one of the biggest cheerleaders for federal homeownership subsidies, and an architect of the housing meltdown, a conversion from Frank would be welcome. Unfortunately, Frank followed the comment with a call for more rental housing subsidies: We are much better off trying to subsidize rental housing, because when you put people into decent rental housing, you do not confront the problems we have seen putting people inappropriately into homeownership. Frank is correct that tying oneself to a mortgage is much riskier than renting. The federal bias toward homeownership has... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3403865 Thu, 25 Mar 2010 12:48:11 +0100 3403865 http://www.medworm.com/index.php?rid=3350235&cid=t_107361_86_f&fid=36669&url=http%3A%2F%2Ffadelibrary.wordpress.com%2F2010%2F03%2F10%2Fhow-can-we-make-the-housing-market-more-stable-for-vulnerable-households%2F Title: How can we make the housing market more stable for vulnerable households? Skinny: Discusses from two different perspectives the kinds of reforms needed to provide long-term housing for disadvantaged people. These viewpoints were commissioned as part of the JRF Housing Market Taskforce programme, which aims to address the root causes of instability in the UK housing market. Publisher: Joseph Rowntree Foundation Size of Publication: 8p Published: 05/03/2010 Filed under: Deprivation, Grey Literature, Housing, Vulnerable People Tagged: Disadvantaged Communities, Housing, Joseph Rowntree Foundation, Poverty, Vulnerable People (Source: Fade Library) Fade Library blogs http://www.medworm.com/rss/comments.php?id=3350235 Wed, 10 Mar 2010 16:04:57 +0100 3350235 http://www.medworm.com/index.php?rid=3350256&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F4X94fxr3RvI%2F By Tad DeHavenLast week, after Rep. Barney Frank (D-MA) said that holders of Fannie Mae and Freddie Mac’s debt shouldn’t be expected to be treated the same as holders of U.S. government debt, the U.S. Treasury took the “unusual” step of reiterating its commitment to back Fannie and Freddie’s debt. If ever there was case against allowing a few hundred men and women to micromanage the economy, this is it. Fannie and Freddie, which are under government control, are being used to help prop up the ailing housing market. If investors think there’s a chance Uncle Sam won’t back the mortgage giants’ debt, mortgage interest rates could rise and demand for housing dampen. Therefore, Frank’s comments caused a bit of a stir. However, with the government bailing out anything that walk... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3350256 Wed, 10 Mar 2010 15:28:59 +0100 3350256 http://www.medworm.com/index.php?rid=3346443&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FYFYcgS5FLlg%2F By Tad DeHavenAs the Federal Housing Administration edges closer to a taxpayer bailout due to the large number of risky mortgage loans it has insured, it continues to insist that no such bailout will be required. However, a new study from a group of economists at New York University finds that the FHA’s assurances might not be based in reality. According to the study, the actuarial analysis FHA used to determine it won’t need a bailout seriously understates its exposure to risk: More FHA mortgages are underwater than the FHA’s analysis identifies, and unemployment is naturally particularly high in areas where FHA borrowers are furthest underwater. Therefore, potential default costs are underestimated. FHA’s analysis relies on house values that are inaccurate. Overvalued houses m... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3346443 Tue, 09 Mar 2010 13:47:38 +0100 3346443 http://www.medworm.com/index.php?rid=3316124&cid=t_107361_109_f&fid=34750&url=http%3A%2F%2Fpsychcentral.com%2Fblog%2Farchives%2F2010%2F02%2F27%2Fbon-jovi-rocks-for-the-homeless%2F My wife is a big fan of Bon Jovi, so when I read this article about Bon Jovi’s fact-finding efforts to help better understand homelessness in order to help it through his foundation, I couldn’t help but blog about it. If you didn’t know, a significant portion of homeless persons have a mental disorder, such as depression, anxiety, bipolar disorder, or schizophrenia. It’s hard to know for certain, but research suggests that approximately 2 out of 5 homeless people have a mental health issue. Bon Jovi wants his foundation to do more to help the homeless: That’s because this tour in support of Bon Jovi’s latest release, “The Circle,” is also a fact-finding mission. The singer plans on visiting as many homeless shelters and programs as time allow... World of Psychology blogs http://www.medworm.com/rss/comments.php?id=3316124 Sat, 27 Feb 2010 18:00:01 +0100 3316124 http://www.medworm.com/index.php?rid=3302303&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FEl2AzaR8Hfc%2F By Mark A. CalabriaIf there should ever be a great time to be a first-time home buyer — it should be now.  Mortgage rates are at historic lows.  Prices have fallen almost 30% across the country since the peak.  Builders continue to add supply into already saturated markets.  Yet, as the Wall Street Journal reports, potential first time home buyers are facing stiff competition from investors…and from the government. Congress has appropriated about $6 billion to local and state governments to buy foreclosed properties.  President Obama is proposing to add another $1.5 billion that could be used for similar purposes.   The argument is supposed to be that these funds would eliminate the negative impact of foreclosures on communities, while also providing shelter to needy fam... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3302303 Tue, 23 Feb 2010 18:31:12 +0100 3302303 http://www.medworm.com/index.php?rid=3290796&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FSvNOqGq_Sxs%2F By Mark A. CalabriaToday in Las Vegas, President Obama will take another $1.5 billion in taxpayer money and let it ride another spin on the roulette wheel otherwise known as foreclosure assistance.  This time, however, he’s not even bothering to send the money to homeowners; its all going to state governments.   That’s correct, he’s sending a huge check to select state governments to use in almost any manner they choose, as long as it offers some pretense at propping up the housing market.   The assistance will be targeted at those states that have seen at least a 20% decline in home prices.  Subsidizing states because their housing markets are getting more affordable almost makes one yearn for the days when we subsidized states because their housing markets ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3290796 Fri, 19 Feb 2010 20:18:29 +0100 3290796 http://www.medworm.com/index.php?rid=3283515&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2Fy93MnVvdGE0%2F By Tad DeHavenThe same federal agency that brought us monumental failures like public housing wants to play a bigger role in fostering so-called regional “smart growth.” HUD secretary Shaun Donovan recently traveled to Portland, Oregon to announce the Obama administration’s new Office of Sustainable Housing and Communities. This new bureaucracy will distribute $140 million in grants for regional “smart growth” planning: With OSHC’s grant programs, HUD will provide funding to a wide variety of multi-jurisdictional and multi-sector partnerships and consortia, from Metropolitan Planning Organizations and State governments, to non-profit and philanthropic organizations. These grants will be designed to encourage regions to build their capacity to integrate economic development, lan... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3283515 Thu, 18 Feb 2010 13:50:35 +0100 3283515 http://www.medworm.com/index.php?rid=3279959&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FaO94pvlz-nw%2F By Tad DeHavenMy house has been on the market for a month and it has drawn a lot more looks than I expected. I’ve been quizzing realtors as they come through, and each one tells me the same story: the government is single-handedly propping up the demand for housing. In addition to the homebuyer tax credit and government-induced low mortgage interest rates, most sales are being done with Federal Housing Administration backing. As a seller, I’m looking to get out before the tax credit expires and interest rates starting ticking upward. But when I do sell, I certainly won’t be looking to buy a house, particularly since I’ll be selling at a loss. If my situation is representative of other current sellers, the housing market could be in for another tumble if the government crutches are ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3279959 Wed, 17 Feb 2010 13:41:32 +0100 3279959 http://www.medworm.com/index.php?rid=3246871&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FUSg6690jbRY%2F By Tad DeHavenOver at Downsizing Government, we focused on the following issues this week: Will Obama’s deficits turn out to be as low-balled as Bush’s? Obama blames Bush for his problems, but his new budget is worse. Obama’s budget would kill the Constellation program, but his budget still goes to the moon. The Federal Housing Administration bailout watch continues. There’s nothing “fiscally responsible” about Sen. Kent Conrad. The government is creating jobs — federal government jobs. (Source: Cato-at-liberty) Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3246871 Fri, 05 Feb 2010 17:29:49 +0100 3246871 http://www.medworm.com/index.php?rid=3243779&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FuGvDWMzD4jo%2F By Jim HarperIn case you need any evidence that the federal background check system would expand to cover many more things than employment, that process is already underway. H.R. 4586 would require someone seeking modification of a home mortgage loan held by Fannie Mae or Freddie Mac to be verified under the E-verify program. (Same would go for modifying mortgages insured under the National Housing Act.) (Source: Cato-at-liberty) Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3243779 Thu, 04 Feb 2010 17:02:11 +0100 3243779 http://www.medworm.com/index.php?rid=3235822&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F5enJUOi_gbY%2F By Tad DeHavenThe Federal Housing Administration has been one of the government’s main instruments for propping up the housing market in the wake of the housing bust. But as has been widely reported, the FHA is in danger of needing a taxpayer bailout because of rising defaults on mortgages it insures. FHA-insured loans originated in 2007 and 2008 – when Bush administration housing officials were mainly concerned with “winning back our share of the market” – are defaulting at higher rates as this graphic from the Washington Post shows: FHA officials are optimistic a bailout won’t be needed, but the Post reports that not everyone shares this optimism: The audit, released in November, found that the cash the FHA set aside to pay for unexpected losses had dipped to historic lows, ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3235822 Wed, 03 Feb 2010 13:36:23 +0100 3235822 http://www.medworm.com/index.php?rid=3216570&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FtMuUx7G-x2I%2F By Chris Moody Cato experts will live-blog Obama’s State of the Union Address tonight. Join in, submit questions, and watch the speech right here on Cato@Liberty at 9:00 PM EST. A quick, ten-point libertarian State of the Union Address. One “Great Canard”: Federal Reserve Chairman Ben Bernanke argues that the Fed’s monetary policy was not responsible for the U.S. housing bubble. About that non-discretionary spending… Podcast: “Obama’s Fiscal Right Fake” featuring Chris Edwards. (Source: Cato-at-liberty) Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3216570 Wed, 27 Jan 2010 20:43:17 +0100 3216570 http://www.medworm.com/index.php?rid=3193662&cid=t_107361_86_f&fid=36669&url=http%3A%2F%2Ffadelibrary.wordpress.com%2F2010%2F01%2F21%2F8613%2F Title: Devolution’s impact on low-income people and places Skinny: Explores the key findings emerging from research and seminars across the UK and identifies some of the key challenges in the years ahead if devolution is to make more of an impact on people and places in poverty. Explores trends in social and economic disadvantage as well as policy developments in the following areas: housing and homelessness, employment, neighbourhood regeneration and long-term care for older people. Publisher: Joseph Rowntree Foundation Size of Publication: 20p Published: 13/01/2010 Posted in Grey Literature, Homelessness, Housing, Poverty, Regeneration, Research, Social Exclusion, Social Inclusion Tagged: Devolution, Employment, Homelessness, Housing, Long Term Care, Policy, Poverty, Regeneration, Rese... Fade Library blogs http://www.medworm.com/rss/comments.php?id=3193662 Thu, 21 Jan 2010 15:10:20 +0100 3193662 http://www.medworm.com/index.php?rid=3193666&cid=t_107361_86_f&fid=36669&url=http%3A%2F%2Ffadelibrary.wordpress.com%2F2010%2F01%2F21%2Fthe-decent-homes-programme%2F Title: The Decent Homes Programme (Executive Summary) Skinny: National Audit Office Report on the programme to make social sector housing and private sector housing for vulnerable people decent has made progress, and the families living in those properties will be enjoying the benefits. Identifies risks to both the Programme’s completion and what has been achieved so far if a reliable funding mechanism is not put in place to deliver the remainder of the Programme and to maintain homes to a decent standard. The report notes that hundreds of thousands of families are still living in properties which are not warm, weather tight, or in a reasonable state of repair. The Department’s efforts have been undermined by weaknesses in the information it holds. Publisher: NAO Size of Publication: 4... Fade Library blogs http://www.medworm.com/rss/comments.php?id=3193666 Thu, 21 Jan 2010 09:48:49 +0100 3193666 http://www.medworm.com/index.php?rid=3189123&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F4FBpYnwq4Lo%2F By Tad DeHavenThe Federal Housing Administration will reportedly announce more stringent lending requirements and higher borrowing fees. The move comes in response to growing concerns that rising losses on mortgages it insures will require a taxpayer bailout. Although any credit tightening is welcome, the agency will not propose an increase in the minimum downpayment, currently 3.5 percent. (Borrowers with credit scores below 580 will be required to put down a minimum of 10 percent, but most FHA lenders already require a 620 minimum score.) Yesterday, the Wall Street Journal noted that “home builders are worried” the FHA would propose raising the minimum downpayment. The CEO of a Texas builder said it would be a “game changer,” meaning that it would hinder the nascent housing recov... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3189123 Wed, 20 Jan 2010 14:25:01 +0100 3189123 http://www.medworm.com/index.php?rid=3178743&cid=t_107361_86_f&fid=36669&url=http%3A%2F%2Ffadelibrary.wordpress.com%2F2010%2F01%2F16%2Fall-i-want-for-chistmas-somewhere-to-call-home-a-report-into-the-plight-of-the-82000-homeless-children-in-england%2F Title: All I Want for Chistmas… Somewhere to Call Home: A report into the plight of the 82,000 homeless children in England. The Skinny: Report by Grant Shapps of the Conservatives on the state of homeless children in England. It finds that: 82,780 children in England will be in temporary accommodation on Christmas Day 2009 6,500 of the families leaving temporary accomodation have waited over 3 years to do so Poor health is twice as prevalent in children in temporary accomodation 33% of children in temporary accomodation have no school to go to One in four households are in temporary accommodation for over a year and 4 percent are in temporary accommodation for over 5 years before a permanent settlement can be found. One in three homeless children will develop a major mental disorde... Fade Library blogs http://www.medworm.com/rss/comments.php?id=3178743 Sat, 16 Jan 2010 11:17:33 +0100 3178743 http://www.medworm.com/index.php?rid=3167057&cid=t_107361_86_f&fid=36669&url=http%3A%2F%2Ffadelibrary.wordpress.com%2F2010%2F01%2F13%2Foverarching-report-of-findings-from-the-adult-autism-strategy%2F Title: Overarching report of findings from the Adult Autism Strategy Skinny: Summary of the findings from the consultation on the future strategy for adults with autustic spectrum conditions (ASC).  It sets out the approach taken, and the key themes and priority actions identified by respondents.  These were: Raising public awareness and acceptance of ASC. Improving key professionals’ level of training. Improving local leadership. Personalising services. Taking account of sensory issues. Improving the diagnosis pathway. Ensuring adults with an ASC can access the healthcare they need. Cross cutting themese were: Awareness raising and training Data collection Exclusion and discrimination Funding and resource issues Priority areas are: Diagnosis and support Support in the community ... Fade Library blogs http://www.medworm.com/rss/comments.php?id=3167057 Wed, 13 Jan 2010 11:39:33 +0100 3167057 http://www.medworm.com/index.php?rid=3153355&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F9SAHBGsYaRw%2F By Thomas FireyWashington is fretting this week over news that mortgage applications fell dramatically in November. Coupled with earlier indications of renewed softening in the housing market, there is growing fear that housing is headed for a “double-dip downturn” that could further damage the economy. As a result, Federal Reserve policymakers are considering additional stimulus, while the National Association of Realtors is suggesting an(other) extension of the “temporary” homebuyer tax credit. Remarkably, neither policymakers nor the media are asking the obvious question: Given all of the emergency interventions in housing that government has undertaken, and the fact that the housing market continues to erode, do such interventions do much good? Since... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3153355 Thu, 07 Jan 2010 19:44:22 +0100 3153355 http://www.medworm.com/index.php?rid=3149277&cid=t_107361_136_f&fid=37852&url=http%3A%2F%2Fdonnatrussell.com%2F2010%2F01%2F07%2Fbanksters-gotta-eat-too%2F New cartoon by Trussell & Trussell on AOL’s Politics Daily. Banksters Gotta Eat Too. Posted in Politics Daily Tagged: banking reform, chaos theory, housing crash, political cartoon, real estate crash, recession, wall street (Source: Donna Trussell) Donna Trussell blogs http://www.medworm.com/rss/comments.php?id=3149277 Thu, 07 Jan 2010 16:13:20 +0100 3149277 http://www.medworm.com/index.php?rid=3149037&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F2IJvlpe-flQ%2F By Peter Van DorenDavid Leonhardt’s column today in the New York Times, in reaction to Ben Bernanke’s recent speech at the American Economic Association meetings, asks an important question: If the Federal Reserve failed to detect the housing bubble when it occurred, why should we entrust it with that role in the future? But he doesn’t follow the logic of his question far enough and instead embraces a financial equivalent of the National Transportation Safety Board, as if technical solutions exist and could be implemented if politics got out of the way. In our recent Policy Analysis, Jagadeesh Gokhale and I examine a more complete list of technical and political problems that stand in the way of asset bubble management. Can bubbles be detected using scientific techniques (econometric... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3149037 Wed, 06 Jan 2010 18:00:37 +0100 3149037 http://www.medworm.com/index.php?rid=3142519&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FnjLh8I2w3HY%2F By Daniel GriswoldFor American workers and families trying to get ahead, the decade just behind us was a stinker. As a front-page Washington Post story over the long weekend summarized: For most of the past 70 years, the U.S. economy has grown at a steady clip, generating perpetually higher incomes and wealth for American households. But since 2000, the story is starkly different. … According to the story, the Aughts (2000-09) were the first decade since World War Two with no net job creation, and the first in which median household income was actually lower at the end than at the beginning. It won’t be long before critics of trade will try to blame the poor economic performance on trade agreements and globalization. This has been a standard line of attack, and I address it at length i... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3142519 Mon, 04 Jan 2010 19:06:28 +0100 3142519 http://www.medworm.com/index.php?rid=3126553&cid=t_107361_86_f&fid=36669&url=http%3A%2F%2Ffadelibrary.wordpress.com%2F2009%2F12%2F29%2Fnew-horizons-the-next-stage-of-mental-health-policy%2F Title: New Horizons: the next stage of mental health policy The Skinny: Summarises the key points of New Horizons, and focuses on what the strategy means for the NHS.  Key points: New Horizons establishes the Government’s vision for improving mental well-being and improving adult mental health services in England. No new targets for public services or commitments on future funding. Focus on public mental health initiatives include targeting young people, tackling stigma and improving employment and housing outcomes. Identifies need to improve quality and efficiency, and focus on recovery. The need to improve access for vulnerable and hard-to-reach groups, such as veterans, is key. Identifies need to improve transitions and early intervention. Publisher: NHS Confederation Size of Publi... Fade Library blogs http://www.medworm.com/rss/comments.php?id=3126553 Tue, 29 Dec 2009 14:11:07 +0100 3126553 http://www.medworm.com/index.php?rid=3111401&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FbztnQvU0Wqc%2F By David BoazThe Wall Street Journal reports that some mortgage insurers and lenders are beginning to relax their down-payment requirements, so that buyers in some parts of the country can now borrow 95% instead of 90% of a property’s value. Buyers who can’t come up with even a 5% down payment can turn to the Federal Housing Administration, which will make loans with as little as a 3.5% down payment. Unsurprisingly, the FHA is increasing its market share. Meanwhile, the Treasury department is pressuring mortgage companies to reduce payments for many more troubled homeowners, averting foreclosures. So, good news: people who lack income and assets will be able to take out loans to buy houses, and if they can’t make the payments they signed up for, the government will pressu... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3111401 Mon, 21 Dec 2009 16:36:55 +0100 3111401 http://www.medworm.com/index.php?rid=3100782&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2Fn0ZyswQ2VcI%2F By Chris Moody Helping out the “Wall Street fat cats:” Bankers are responding to the incentives generated by the economic policies of the Treasury and the Federal Reserve. How charter schools can save states big education dollars. Doug Bandow:  “Congress has spent the country blind, inflated a disastrous housing bubble, subsidized every special interest with a letterhead and lobbyist, and created a wasteful, incompetent bureaucracy that fills Washington. But now, legislators want to take a break from all their good work and save college football.” In case you missed it last week, watch Cato’s Jerry Taylor on the premier episode of Stossel. Podcast: “Urban Planners Romanticize Immobility“ (Source: Cato-at-liberty) Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3100782 Thu, 17 Dec 2009 17:27:50 +0100 3100782 http://www.medworm.com/index.php?rid=3096832&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FYC84ZLvXw_U%2F By Tad DeHavenU.S. Department of Housing and Urban Development Secretary Shaun Donovan recently gave a speech in New York in which he spoke of a “new direction in housing.” If there’s one constant with cabinet secretaries, it’s that they all promise that their department will be new and improved. The following are a few of Donovan’s lines that deserve comment. The Federal Housing Administration is providing another critical bridge to economic stability…And with nearly half of first-time buyers using FHA loans, it is clear that the FHA has been central to recovery. Thanks to his predecessor, Alphonso Jackson, who was “absolutely emphatic about winning back our share of the market,” the FHA’s willingness to pick up the subprime lending slack when the housing bubble burst ha... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3096832 Thu, 17 Dec 2009 13:55:24 +0100 3096832 http://www.medworm.com/index.php?rid=3056621&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FnW5hraShaXg%2F A few questions for Ben Bernanke: “Perhaps the most important question Bernanke should answer is: how will he re-build and maintain an independent Fed?” Before considering Bernanke’s role in containing the financial crisis, Congress should investigate the role of Fed policy in allowing the housing bubble to grow. Prepare to pay more: Today, an average insurance policy can cost about $2,985 for an individual or $6,328 for a family.  Under the Senate bill, those premiums will increase to $5,800 for an individual worker and $15,200 for a family plan by 2016. Why the White House “jobs summit” is unnecessary. Made on Earth: How global economic integration renders trade policy obsolete. Podcast: “ObamaCare the Budget Buster.” More, here. (Sour... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3056621 Thu, 03 Dec 2009 16:37:34 +0100 3056621 http://www.medworm.com/index.php?rid=3044729&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FVyg2BVRhdj4%2F A glimmer of hope for libertarian public policy in the age of Obama: The War on Drugs may be slowly winding down. “The prospects for reform are better than they’ve been in decades.” An overview of religious liberty around the world. Doug Bandow: “Martyrdom did not disappear with imperial Rome.” All eyes on India: Party crashers aside, Indian Prime Minister Manmohan Singh’s visit to the U.S. was an important event. Patrick J. Michaels on “ClimateGate.” More, here. The insanity of housing subsidies: “If you’re thinking to yourself that this is the sort of government-induced behavior that helped create the housing bubble, go to the head of the class.” Podcast: “Judicial Takings at SCOTUS“ (Source: Cato-at-liberty) Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3044729 Tue, 01 Dec 2009 16:54:56 +0100 3044729 http://www.medworm.com/index.php?rid=3029780&cid=t_107361_87_f&fid=34902&url=http%3A%2F%2Fwww.futurepundit.com%2Farchives%2F006743.html Some former fast track suburbs have lost population since the recession started. The recession and housing collapse have halted four decades of double-digit growth for nearly half of the nation's biggest rapidly expanding suburbs. Twenty-four of the 53 cities of 100,000 or more that grew by at least 10% every decade since 1970 lost population in the last two years. This is blamed on the recession. But I think the oil price peak in the summer of 2008 (which by itself was enough to trigger a recession and we are at risk for a repeat) scared a lot of people out of willingness to move somewhere that requires long commutes. Some commentators predict a return of ex-urb dwellers back into... (Source: FuturePundit) FuturePundit blogs http://www.medworm.com/rss/comments.php?id=3029780 Wed, 25 Nov 2009 00:00:00 +0100 3029780 http://www.medworm.com/index.php?rid=3003845&cid=t_107361_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2009%2F11%2F18%2Fthe-situation-of-mortgage-defaults%2F This article suggests that most homeowners choose not to strategically default as a result of two emotional forces: 1) the desire to avoid the shame and guilt of foreclosure; and 2) exaggerated anxiety over foreclosure’s perceived consequences. Moreover, these emotional constraints are actively cultivated by the government and other social control agents in order to encourage homeowners to follow social and moral norms related to the honoring of financial obligations – and to ignore market and legal norms under which strategic default might be both viable and the wisest financial decision. Norms governing homeowner behavior stand in sharp contrast to norms governing lenders, who seek to maximize profits or minimize losses irrespective of concerns of morality or social responsibilit... The Situationist blogs http://www.medworm.com/rss/comments.php?id=3003845 Wed, 18 Nov 2009 04:01:17 +0100 3003845 http://www.medworm.com/index.php?rid=2992654&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FSbYiyF-YLk4%2F Over at Downsizing Government, we focused on failures in the following departments and agencies this week: Export-Import Bank: Call it the “Boeing Bank” HUD: Federal Housing Administration woes continue and housing subsidies for the dead Transportation: High-speed rail lobbyists squabble over taxpayer loot Also, in addition to losing more money, Fannie Mae and Freddie Mac lose their inspector general. (Source: Cato-at-liberty) Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2992654 Fri, 13 Nov 2009 20:28:19 +0100 2992654 http://www.medworm.com/index.php?rid=2989131&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FSPFVOqcc8Sg%2F The Wall Street Journal is reporting that Fannie Mae and Freddie Mac, which have already consumed $112 billion in taxpayer bailouts, may have additional losses if they can’t recoup claims from struggling private mortgage insurers. From the Journal: Fannie Mae has about $109.5 billion of mortgage-insurance coverage in force, which represents 4 percent of all single-family home loans it owns or guarantees. Freddie Mac had $63.4 billion in mortgage insurance and $12.2 billion in bond insurance. Private mortgage insurance is required for any home loan with less than a 20 percent down payment, and the policies typically cover 12 percent to 35 percent of losses in the event of a default, according to HSH Associates, a financial publisher. Mortgage insurers have been forced to pay up as loan de... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2989131 Fri, 13 Nov 2009 15:06:03 +0100 2989131 http://www.medworm.com/index.php?rid=2984775&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F9WriRdpMVHE%2F This report is a small illustration of the fundamental problems with the federal government subsidizing local governments. The local public housing agencies are supposed to be monitoring how money is spent and reporting to HUD. HUD is supposed to be monitoring the local public housing agencies. But no one does a very good monitoring job, despite the piles of regulations and paperwork that every level of government has to deal with for such subsidies. The muddled web of responsibilities also makes it easy for fraud artists to take advantage. Last week, HUD’s IG reported that the department is sending $220 million in stimulus funds to local agencies already known to misspend taxpayer dollars. From USA Today: The government is sending millions of dollars in stimulus aid to communities and h... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2984775 Thu, 12 Nov 2009 14:27:20 +0100 2984775 http://www.medworm.com/index.php?rid=2970197&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FbtuLNttYRlw%2F Over at Downsizing Government, we focused on failures in the following departments this week: Commerce: corporate welfare in Ohio Defense: cost overruns in the Pentagon’s space programs Energy: central planners gamble with taxpayer money HUD: subsidizing private firms to operate public housing isn’t a solution Also, dubious stimulus projects point to a need to return to fiscal federalism. (Source: Cato-at-liberty) Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2970197 Fri, 06 Nov 2009 17:27:44 +0100 2970197 http://www.medworm.com/index.php?rid=2950841&cid=t_107361_122_f&fid=34736&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FChannelN-PodcastsPoweredByOdiogo%2F%7E3%2FyblIiSNECNk%2Fparticipatory-research.html Hearing Our Voices: A Participatory Research Being involved in designing and carrying out an academic participatory research project on housing for people with severe psychiatric challenges. Research team members also reveal their personal experiences and symptoms of schizophrenia, and talk about the group program The Unsung Heroes. Includes video of the Making Our Voices Heard presentation, a powerful theatrical reading from their research findings [PDF script]. Lots more info at a luxe project web site with a photo essay, graphic novel (!), script & performances, travelling exhibit, publications and more. “Back when we started, I never thought we would get that far. I never thought that it would be such a difference, you know, of yeah, we’ve discovered these facts. We&#8... Channel N blogs http://www.medworm.com/rss/comments.php?id=2950841 Mon, 02 Nov 2009 16:30:09 +0100 2950841 http://www.medworm.com/index.php?rid=2950688&cid=t_107361_86_f&fid=36669&url=http%3A%2F%2Ffadelibrary.wordpress.com%2F2009%2F11%2F02%2Fmeans-to-an-end%2F Title: Means to an end (summary) Skinny: Reviews the joint financing and integrated care arrangements between NHS bodies and councils with adult social care responsibilities. It builds on our previous publication, Clarifying joint financing arrangements, that explained the practical implications and legislative framework for joint financing. The focus is on on learning disability, mental health and older people – areas where service users most often need health and social care. It provides recommendations and good practice aiming to help national and local bodies better understand the options available, how to use them and to achieve better outcomes for service users. Publisher: Audit Commission Size of Publication: 68p Published: 29/10/2009 Posted in Decision Making, Disabilities, E... Fade Library blogs http://www.medworm.com/rss/comments.php?id=2950688 Mon, 02 Nov 2009 10:03:03 +0100 2950688 http://www.medworm.com/index.php?rid=2934614&cid=t_107361_86_f&fid=36669&url=http%3A%2F%2Ffadelibrary.wordpress.com%2F2009%2F10%2F28%2Fcharging-for-residential-care-the-property-disregard-and-partners-under-60%2F Title: Charging for residential care: the property disregard and partners under 60 Skinny: Letter seeking views on the proposal to amend the 1992 regulations to reflect the longstanding policy and practice of disregarding property where a partner aged under 60 continues to reside in the family home.  A draft of the proposed amending regulations can be downloaded. Publisher: DH Size of Publication: 2p Published: 27/10/2009 Posted in Financial Management, Grey Literature, Housing, Older People, Primary Care, Residential Care Tagged: Financial Management, Grey Literature, Regulations, Residential Care (Source: Fade Library) Fade Library blogs http://www.medworm.com/rss/comments.php?id=2934614 Wed, 28 Oct 2009 10:01:39 +0100 2934614 http://www.medworm.com/index.php?rid=2912264&cid=t_107361_109_f&fid=34859&url=http%3A%2F%2Fwww.dare-to-dream.us%2Farchives%2F2009%2F10%2Fbarriers_behaviors_subcultures_and_the_homeless_po.php I really enjoy reading the blog Kellevision.com. She says it like it is and seldom misses the point of what she's writing about. She identifies a problem in programming for homelessness and proposes a set of concepts to help clarify the situation. Image via Wikipedia Many of the "barriers" faced by the chronically homeless are not external. They are self-inflicted. Repeatedly failing to pay one's utility bills is not a barrier. It is a behavior. Repeatedly getting into relationships with drug addicts and being evicted because you have allowed your new girlfriend to turn your affordable housing into a crack house is not a barrier. It is a behavior. Choosing to pay your boyfriend's bail instead of the rent is not a barrier, it is a behavior. Consistently refusing to hold down steady employm... Ψ Dare To Dream... blogs http://www.medworm.com/rss/comments.php?id=2912264 Wed, 21 Oct 2009 15:12:07 +0100 2912264 http://www.medworm.com/index.php?rid=2886418&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FqU-D-xKXTAk%2F Perhaps the worst feature of the bailouts and the stimulus has been that, whatever their merits as short terms fixes, they have done nothing to improve economic policy over the long haul; indeed, they compound past mistakes. Here is a good example: For months, troubled homeowners seeking to lower their mortgage payments under a federal plan have complained about bureaucratic bungling, ceaseless frustration and confusion. On Thursday, the Obama administration declared that the $75 billion program is finally providing broad relief after it pressured mortgage companies to move faster to modify more loans. Five hundred thousand troubled homeowners have had their loan payments lowered on a trial basis under the Making Home Affordable Program. The crucial words in the story are “$75 billio... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2886418 Mon, 12 Oct 2009 17:35:51 +0100 2886418 http://www.medworm.com/index.php?rid=2876013&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FNdAs9FKceq0%2F Think the bailouts are over?  Think again!  The Federal Housing Administration could become the next Fannie Mae. Reports the New York Times: Problems at the Federal Housing Administration, which guarantees mortgages with low down payments, are becoming so acute that some experts warn the agency might need a federal bailout. Running questions about the F.H.A.’s future — underscored by interviews with policy makers, analysts and home buyers — came to the fore on Thursday on Capitol Hill. In testimony before a House subcommittee, the F.H.A. commissioner, David H. Stevens, assured lawmakers that his agency would not need a bailout and that it was managing its risks. But he acknowledged that some 20 percent of F.H.A. loans insured last year — and as many as 24 percent of those from 20... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2876013 Fri, 09 Oct 2009 14:27:10 +0100 2876013 http://www.medworm.com/index.php?rid=2876022&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2Fc18y9pP9fp8%2F Many commentators have argued that if the Federal Reserve had followed a stricter monetary policy earlier this decade when the housing bubble was forming, and if Congress had not deregulated banking but had imposed tighter financial standards, the housing boom and bust—and the subsequent financial crisis and recession—would have been averted. In a new study, Cato scholars Jagadeesh Gokhale and Peter Van Doren investigate those claims and dispute them. (Source: Cato-at-liberty) Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2876022 Thu, 08 Oct 2009 15:05:50 +0100 2876022 http://www.medworm.com/index.php?rid=2865648&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FOU8VBlIASEw%2F Did you know that the average American family spends $1,000 each year on the U.S. Department of Agriculture, whether or not it consumes that agency’s services?  Or that the federal government annually spends $1,500 per household on net interest costs alone? In an ongoing effort to shed light on runaway government spending and expose wasteful government programs, Cato launched a new Web site today that examines the federal budget department-by-department to see which agencies can be reformed or terminated. DownsizingGovernment.org describes which programs are wasteful, damaging and obsolete in an era of trillion-dollar deficits. The research exposes that many public outlays—though vigorously defended by the politicians who created them and the constituencies they purport to help... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2865648 Mon, 05 Oct 2009 18:59:26 +0100 2865648 http://www.medworm.com/index.php?rid=2857396&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2Fjh7W_QCtAME%2F Bush-era surveillance powers are set to expire at the end of this year. Julian Sanchez explores the efforts to revise the PATRIOT Act. More on the medical professionals who aided in acts of torture. Doug Bandow: Ireland is holding a second referendum on the Lisbon Treaty on Friday. If the Irish say yes, the European Union will be stronger. But will anyone notice? How urban planners caused the housing bubble. The aftermath of  “Cash for Clunkers” hits automakers. Looks like it just might have been the “dumbest program ever” after all. Podcast: “Three Felonies a Day“ (Source: Cato-at-liberty) Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2857396 Fri, 02 Oct 2009 21:35:11 +0100 2857396 http://www.medworm.com/index.php?rid=2855544&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FIbmJSv49OxM%2F This past week witnessed continued debate in congressional committees over changes to our financial regulatory system.  Perhaps catching the most attention was Fed Chairman Ben Bernanke’s appearance before House Financial Services.  Sadly missing from all the noise this week was any discussion over reforming those entities at the center of the housing bubble and mortgage meltdown:  Fannie Mae and Freddie Mac. While many, including Bernanke, have identified the “global savings glut” as a prime force behind the historically low interest rates that drove the housing bubble, often missed in this analysis is the critical role played by Fannie and Freddie as channels of that savings glut.  After all, the Chinese Central Bank was not plowing its reserves into Countrywide sto... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2855544 Fri, 02 Oct 2009 16:08:38 +0100 2855544 http://www.medworm.com/index.php?rid=2803878&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FezH7ncJ3cEM%2F Today the Center for American Progress rolled out its proposal that we add “public directors” to the boards of companies that have been bailed out by the government.  CAP scholar Emma Coleman Jordan argues that “public directors will provide a corrective to the boards of the financial institutions that helped cause the crisis.” One has to wonder whether Ms. Jordan has ever heard of Fannie Mae and Freddie Mac.  If she had, she might recall that a substantial number of the board members of Fannie and Freddie were so-called “public” members appointed by the President.  Perhaps she can ask CAP adjunct scholar and former Fannie Mae executive Ellen Seidman to review the history of those companies for her. Where’s the evidence that any of those Fannie... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2803878 Thu, 17 Sep 2009 17:45:44 +0100 2803878 http://www.medworm.com/index.php?rid=2803884&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FkqhHMUkn27k%2F The core of Keynesian economic policy is that the government must come in and replace reductions in private sector demand with public sector demand, therefore bringing overall demand back to its previous level.  One of the many flaws in this thinking is in assuming that the previous level of demand was “correct” and getting us back to that level is the appropriate policy response. Take the example of the housing market and the government response.  The primary response of Republicans in Washington has been to offer tax credits and other incentives to replace the drop in demand for housing.  Witness Senator Johnny Isakson’s  recent comments on why we need to extend the $8,000 homebuyer tax credit: “If you take that kind of business out of what’s already a v... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2803884 Thu, 17 Sep 2009 15:51:10 +0100 2803884 http://www.medworm.com/index.php?rid=2793134&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FHQmw2pZGlFY%2F Today President Obama took his financial reform plan to the airwaves.  While there is no doubt our financial system is in need of financial reform, the President’s plan would make bailouts a permanent feature of the regulatory landscape.  Rather than ending “too big to fail” — the President wants us to believe that with additional discretion and power, the same Federal Reserve that missed the boat last time will save us next time. The truth is that the President’s plan will result in a small number of companies being viewed by debtholders as “too big to fail”.  These companies would see their funding costs decline, allowing them to gain market-share at the expense of their rivals, making these firms even larger.  Greater concentration in our fi... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2793134 Mon, 14 Sep 2009 16:29:55 +0100 2793134 http://www.medworm.com/index.php?rid=2765997&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FB493KuxXxbI%2F The housing boom and bust that occurred earlier in this decade resulted from efforts by Fannie Mae and Freddie Mac — the government sponsored enterprises with implicit backing from taxpayers — to extend mortgage credit to high-risk borrowers. This lending did not impose appropriate conditions on borrower income and assets, and it included loans with minimal down payments. We know how that turned out. Did U.S. policymakers learn their lessons from this debacle and stop subsidizing mortgage lending to risky borrowers? NO. Instead, the Federal Housing Authority lept into the breach: The FHA insures private lenders against defaults on certain home mortgages, an inducement to make such loans. Insurance from the New Deal-era agency has enabled lending to buyers who can’t make a big d... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2765997 Fri, 04 Sep 2009 14:23:40 +0100 2765997 http://www.medworm.com/index.php?rid=2761846&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FK60XHMCvO6s%2F Earlier this week, the AFL-CIO, building upon a suggestion made last week in the UK, proposed that the federal government impose a 1/10 of 1 percent tax of all stock trades.  The union group argues that such a tax would reduce non-productive speculative activity in the stock market. First of all, we have all sorts of transfer taxes on housing, and yet we still had a housing bubble.  So much for small taxes stopping speculative activity.  If an investor expected to double their money, it seems quite a stretch to believe that such a small tax would discourage them. More importantly, our recent financial crisis was not triggered by too much equity (like stocks) but by too much debt.  In taxing stock transactions, we only add to the already favorable treatment of debt compared to equity, ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2761846 Thu, 03 Sep 2009 14:25:16 +0100 2761846 http://www.medworm.com/index.php?rid=2741344&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2Fm2TGf8GpJIs%2F Just when you were thinking it was safe to go back into the mortgage market, today’s Wall Street Journal  is highlighting the next source of mortgage fraud, the Federal Housing Administration’s (FHA) reserve mortgage program.  In a typical reverse mortgage, the bank sends the borrower a monthly check (or a lump sum payment at the beginning of the loan). It seems that some creative individuals have figured they could deed a run-down house to an elderly individual, and then get a reserve mortgage on that property; leaving them with the cash and the government with the run-down worthless property.  Of course, this requires getting an appraiser to go along with the value of the home, but since the Clinton HUD decided to do away with FHA control of appraisers and let the lender p... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2741344 Thu, 27 Aug 2009 16:58:14 +0100 2741344 http://www.medworm.com/index.php?rid=2734014&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FXmuqbPJu1us%2F In re-appointing Bernanke to another four year term as Fed chairman, President Obama completes his embrace of bailouts, easy money and deficits as the defining characteristics of his economic agenda. Bernanke, along with Secretary Geithner (then New York Fed president) were the prime movers behind the bailouts of AIG and Bear Stearns. Rather than “saving capitalism,” these bailouts only spread panic at considerable cost to the taxpayer. As evidenced in his “financial reform” proposal, Obama does not see bailouts as the problem, but instead believes an expanded Fed is the solution to all that is wrong with the financial sector. Bernanke also played a central role as the Fed governor most in favor of easy money in the aftermath of the dot-com bubble — a policy t... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2734014 Tue, 25 Aug 2009 14:25:29 +0100 2734014 http://www.medworm.com/index.php?rid=2670777&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FKWDLblAIeX0%2F One of the obstacles to reducing mortgage foreclosures is that so many of the homes being foreclosured upon are not occupied by their owners.  Approximately 20 percent of homes are vacant investor-held properties, while according to the National Low Income Housing Coalition another 20 percent are occupied by renters. Addressing the issue of renter occupied foreclosures has been one of the harder nuts to crack.  We should have no sympathy for vacant homes purchased purely for speculative gain – the best course of action for those homes is foreclosure, or even better, speculators should be expected to continue paying those mortgages even in the face of losses.   Where homes are currently rented however, it may be in the interest of both the bank and the renter to continue that... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2670777 Tue, 04 Aug 2009 13:28:11 +0100 2670777 http://www.medworm.com/index.php?rid=2645269&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2Fq8DOqyA2Dec%2F Over the last week, speaking at a variety of events, I heard three different representatives of the Left; first a Democrat US Senator, then a senior member of the Obama Administration, and finally a “consumer” advocate, all repeat the same narrative:  all was fine in the housing market until predatory lenders forced hard-working honest families into foreclosure, which reduced house prices, bringing the economy to a crash.  That’s correct, apparently the Left believes we all would still be seeing double-digit home price appreciation if it wasn’t for those evil lenders. Undoubtedly foreclosures, especially those that result in houses that remain vacant for a considerable amount of time, have an adverse impact on surrounding property values.  Many constitute a serio... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2645269 Mon, 27 Jul 2009 15:32:12 +0100 2645269 http://www.medworm.com/index.php?rid=2605943&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2Fid-1khc1UNI%2F Earlier this week, SEC Chair Mary Shapiro appeared before Congress to suggest ways to fix the failings in our credit rating agencies.   Sadly her proposals miss the market, although that shouldn’t be so surprising as her suggestions appear to rest upon a misunderstanding of the problem. The thrust of the SEC’s current approach is more disclosure, such as releasing “pre-ratings” that debt issuers may get before final issuance.  Additional disclosure of ratings methodology and assumptions is likely to be useless.  Almost all that information was available during the building housing bubble.  The problem is that the rating agencies had little incentive to go beyond the consensus forecasts of increasing to at most modest declines in home prices.  These same assum... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2605943 Wed, 15 Jul 2009 16:27:44 +0100 2605943 http://www.medworm.com/index.php?rid=2598191&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FWpZvflg_xZQ%2F Recent weeks have seen a swirl of speculation over whether President Obama will or will not re-appoint Ben Bernanke to the Chairmanship of the Federal Reserve Board, when his current term as Chair expires in January 2010. Almost all of the debate has centered on his actions as Chairman. This narrow focus misses an important piece: his actions, and words, as a Fed governor during the build-up of the housing bubble. What should have been Bernanke’s greatest strength as a Fed governor and later chair, his understanding of monetary theory and his knowledge of the Great Depression, has ended up being a weakness. While correct in his analysis of the role of “debt deflation” — where the deflation increases the real burden of debts and correspondingly weakens the balance s... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2598191 Mon, 13 Jul 2009 14:19:43 +0100 2598191 http://www.medworm.com/index.php?rid=2561214&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FNgWMnomrBTM%2F Today the Obama Administration released a 152-page draft bill to create a new Consumer Financial Product Commission. While intended to protect against consumer confusion and reduce the likelihood of future financial crises, the proposed agency will at best have little impact and at worst contribute to the next financial crisis, with the added effect of decreased homeownership and increased litigation. The president promises that “those ridiculous contracts with pages of fine print that no one can figure out – those things will be a thing of the past,” The president ignores that those “ridiculous contracts” and “fine print” are the result of previous rounds of so-called consumer protections. The disclosures one receives with a mortgage or a credit card are those mandated by so... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2561214 Tue, 30 Jun 2009 19:34:00 +0100 2561214 http://www.medworm.com/index.php?rid=2473211&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F1w2H0Azqqr8%2F As discussed in a recent Bloomberg piece, several U.S. senators from both parties are pushing to almost double the recently enacted $8,000 tax credit for first-time homebuyers to $15,000. The same senators are also pushing to remove the current income restrictions — $75,000 for individuals and $150,000 for couples — while also removing the first-time buyer requirement. The intent of the increase, and the original credit, is to increase the demand for housing and to create a “bottom” to the housing market. The flaw of this approach is that it creates a false bottom, one characterized by government-inflated prices and not fundamentals. It was excessive government subsidies into housing that helped create the housing bubble, additional subsidies to re-inflate the bubble will only pr... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2473211 Thu, 11 Jun 2009 15:07:25 +0100 2473211 http://www.medworm.com/index.php?rid=2452312&cid=t_107361_86_f&fid=36669&url=http%3A%2F%2Ffadelibrary.wordpress.com%2F2009%2F06%2F05%2Fsupporting-people-with-autism-through-adulthood%2F (Executive Summary) from the National Audit Office focus’ on Value for Money issues relating to the support needed for those with autism it finds: People with autism may use a very wide range of public services, two key areas exist where the effectiveness of existing services can be improved: better strategy and planning, based on good information and raising levels of knowledge and awareness of the nature of autism and the potential needs of autistic people. Identifies scope for better targeted support for people with high-functioning autism/Asperger Syndrome. Explores the possible impacts of providing specialised health, social care and employment support for adults with high-functioning autism. This would require additional expenditure, for example an estimated £40 million per ... Fade Library blogs http://www.medworm.com/rss/comments.php?id=2452312 Fri, 05 Jun 2009 10:13:26 +0100 2452312 http://www.medworm.com/index.php?rid=2452373&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FDNh0SGI5fA4%2F A month ago, President Obama issued a list of proposed spending cuts that I dismissed as “unserious” due to the fact that they were trivial when compared to his proposed spending and debt increases.  Today, the House Republican leadership released a list of proposed spending cuts. I’d love to say I’m impressed, but I can’t. Both proposals indicate that neither side of the aisle grasps the severity of the country’s ugly fiscal situation, or at least has the guts to do anything concrete about it. The GOP proposal claims savings of more than $375 billion over five years, the bulk of which ($317 billion) would come from holding non-defense discretionary spending increases to no more than inflation over the next five years. First, it should be cut — pe... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2452373 Thu, 04 Jun 2009 17:39:20 +0100 2452373 http://www.medworm.com/index.php?rid=2452751&cid=t_107361_111_f&fid=36048&url=http%3A%2F%2Ffeeds.b5media.com%2F%7Er%2Fb5media%2FAHeartyLife%2F%7E3%2FyreZPu5XO5M%2F When the people who don’t have the resources to get into the hospital, how much do you think it costs? Well, now we have an idea. The Family Van, offered by Harvard Medical School, says it has “saved the health care system roughly $20 million last year by getting hard-to-reach patients to stick with treatments and avoid costly care in hospital emergency rooms.” The clinic on wheels offers free tests to people in low-income neighborhoods, and has done so for over 15 years. The Van sees about 5,000 patients a year, 80 percent of which would “have ended up in a hospital emergency room if the van wasn’t around.” Image: sxc.hu. Share and Enjoy: Post from: Blisstree Harvard Family Van Saved Millions of $$ (Source: A Hearty Life) A Hearty Life blogs http://www.medworm.com/rss/comments.php?id=2452751 Wed, 03 Jun 2009 11:58:55 +0100 2452751 http://www.medworm.com/index.php?rid=2414721&cid=t_107361_86_f&fid=36669&url=http%3A%2F%2Ffadelibrary.wordpress.com%2F2009%2F05%2F16%2Fmanaging-resources-in-later-life%2F This study explores the changing lives of older people and shows how resources are used to manage change and maintain stability. Key points Declining health, particularly mobility, had the most effect on older people’s lives. Participants drew on family and friends, formal services, financial resources and personal strategies to cope. Moving to a more suitable property had made a positive difference to a few people. However, the process could take time, and practical and emotional obstacles could put people off moving. Changes in older people’s social networks and the local environment were often felt to be beyond people’s control. This included relationships with families and friends, neighbours and changes in the community. The introduction of free off-peak local bus travel for pe... Fade Library blogs http://www.medworm.com/rss/comments.php?id=2414721 Sat, 16 May 2009 03:47:17 +0100 2414721 http://www.medworm.com/index.php?rid=2414722&cid=t_107361_86_f&fid=36669&url=http%3A%2F%2Ffadelibrary.wordpress.com%2F2009%2F05%2F16%2Fthe-impacts-of-housing-stock-transfers-in-urban-britain%2F from the Joseph Rowntee Foundation looks at the transfer of housing stock from councils to specially established housing associations, concentrating on the ‘second generation’ of transfers carried out since 1997. It considers how successful these transfers have been, and examines: the nature of ‘transfer promises’ (commitments to channel fresh investment into housing repair and modernisation) and how far these have been met; the impact of transfer on organisational culture, governance and service delivery; and the contribution of transfer to wider regeneration and social inclusion. Posted in Governance, Grey Literature, Housing, Quality Tagged: Governance, Grey Literature, Housing, Organisational Culture, Quality, Social Inclusion, Urban Renewal (Source: Fade Library) Fade Library blogs http://www.medworm.com/rss/comments.php?id=2414722 Sat, 16 May 2009 03:37:48 +0100 2414722 http://www.medworm.com/index.php?rid=2405043&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FtZlSp42e6lw%2F Yes, I know.  It’s hard to believe.  Fannie Mae continues to lose money and, even more surprisingly, isn’t likely to ever pay taxpayers back for all of the billions that it already has squandered.  Rather, it says it will need more bail-out funds — probably another $110 billion this year alone. Reports the Washington Post: Fannie Mae reported yesterday that it lost $23.2 billion in the first three months of the year as mortgage defaults increasingly spread from risky loans to the far-larger portfolio of loans to borrowers who have been considered safe. The massive loss prompts a $19 billion investment from the government to keep the firm solvent, on top of a $15 billion investment of taxpayer money earlier this year. The sobering earnings report was a reminder of the f... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2405043 Tue, 12 May 2009 22:12:16 +0100 2405043 http://www.medworm.com/index.php?rid=2380734&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F0Qzsts6wkpI%2F Billions and billions of dollars! Get yours today! I’ve written before about the massive lobbying game in Washington to get your own special interests written into the stimulus and budget bills. And about the efforts to pressure governments into spending that money NOW. Today a friend sent me a new piece of the incredible expanding stimulus economy. A publishing company has created a new newsletter on how to keep up with “ever-changing opportunities and the complex requirements to apply for them” — The Money for Main Street Monitor. Yes, for only $229 a year, with this special offer, you can keep up with the lucrative and ever-changing “new stimulus funding opportunities.” I’m omitting the specifics so as not to give this parasitical industry any... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2380734 Wed, 29 Apr 2009 21:20:08 +0100 2380734 http://www.medworm.com/index.php?rid=2376577&cid=t_107361_133_f&fid=35098&url=http%3A%2F%2Fclub166.blogspot.com%2F2009%2F04%2Fwhere-rubber-meets-road.html The organization ADAPT staged a non-violent sit in at the Whitehouse today in Washington, D.C. For those of you who aren't familiar with ADAPT, it is an organization that advocates for the civil and human rights of the disabled.This protest was in support of the CCA, or the Community Choice Act. If passed, this act would provide much more support for the disabled to live in their own homes, instead of being shunted into institutions (both large and small).The current administration has talked a lot about support for the disabled. It's time to see if they're willing to support their words with action. It will take spending some political capital to get lawmakers to sign onto this bill (the disabled, being mostly invisible to lawmakers, are not seen as a significant part of anyone's voting b... Club 166 blogs http://www.medworm.com/rss/comments.php?id=2376577 Mon, 27 Apr 2009 23:24:00 +0100 2376577 http://www.medworm.com/index.php?rid=2364934&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2Fn6rrT2Ob_SY%2F Government-backed equity was offered to adequately capitalized banks in order to remove the “stigma” from banks receiving TARP funds, and the management of these institutions took the bait and accepted the money. Surprise, surprise: now they discover that the money came with strings. Some banks want to pay back the TARP money to extricate themselves from government restrictions on compensation and pressure to make loans the banks view as unprofitable. Treasury Secretary Geithner has made it clear that the decision to pay back the funds early won’t be left to the banks, but to the Treasury: “My basic obligation is to make sure the system as a whole … has the ability to provide the credit that recovery requires.” The banking system has thus become a tool for the government to... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2364934 Wed, 22 Apr 2009 18:13:43 +0100 2364934 http://www.medworm.com/index.php?rid=2347786&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FziySqucYAlc%2F Jeffrey Miron, Director of Undergraduate Studies at Harvard’s Department of Economics, has joined the Cato Institute as a Senior Fellow. “I am delighted to be working with Cato,” Miron said. “This is a crucial moment in our nation’s history, and Cato’s mission - increased understanding of the virtues of limited government, free markets, individual liberty, and peace - has rarely been more important.” Miron will help Cato’s economic team promote dynamic market capitalism and economic freedom through media appearances and policy analyses, in addition to speaking engagements and outreach to the academic community.  He is the author of Drug War Crimes: The Consequences of Prohibition (Independent Institute, 2004) and The Economics of Seasonal C... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2347786 Mon, 20 Apr 2009 13:27:12 +0100 2347786 http://www.medworm.com/index.php?rid=2255988&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FQenFhWkZ_No%2F Peter Van Doren and I have been puzzling over this very interesting NYT op-ed on home foreclosures by Yale economist John Geanakoplos and Boston University law professor Susan Koniak. If G&K’s story is right, then shouldn’t there be an opportunity for some clever financiers to help struggling homeowners keep their houses, help banks and other investors repair their balance sheets — and the financiers could help themselves to piles of cash in the process? G&K argue that all three parties to a home mortgage — the homeowner, the lender, and the loan servicer who works as a go-between — currently face grim financial prospects: Many homeowners are “underwater” — that is, they owe more on their mortgages than their homes are now worth. Accord... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2255988 Tue, 10 Mar 2009 18:45:44 +0100 2255988 http://www.medworm.com/index.php?rid=2255990&cid=t_107361_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F2nX4f9l5GWI%2F The National Center on Family Homelessness has generated headlines today by releasing a report that claims “one in 50 children is homeless in the United States every year.” That would be a total of 1.5 million homeless children, a truly shocking figure. The number is all the more shocking because the U.S. Department of Housing and Urban Development says there actually only 671,000 people were homeless in 2007 (the last year for which data is available), of which only about 249,000 were people in families. Assuming even one adult per family would mean there were around 166,000 homeless children, far too many, but also far fewer than 1.5 million. What accounts for the discrepancy? First, the National Center uses an incredibly broad definition of homeless. For example, in addition to thos... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2255990 Tue, 10 Mar 2009 17:39:10 +0100 2255990 http://www.medworm.com/index.php?rid=2184118&cid=t_107361_133_f&fid=37107&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2Faspieweb%2F%7E3%2FwwBhkqtC_dw%2F It just happened - an apartment complex has sent eviction paperwork to me because of the companion dog I keep to help me with Aspergers. Background I sublease through a mental health service provider an apartment in Concord Place Apartments in Kalamazoo, MI.  Before moving to this apartment I subleased from the service provider a more [...] This is an excerpt from an article on AspieWeb.net, A blog writen by an Autistic Blogger. (Source: AspieWeb.net) AspieWeb.net blogs http://www.medworm.com/rss/comments.php?id=2184118 Fri, 13 Feb 2009 11:51:28 +0100 2184118 http://www.medworm.com/index.php?rid=2074311&cid=t_107361_133_f&fid=35096&url=http%3A%2F%2Ffeeds.b5media.com%2F%7Er%2Fb5media%2FAutismVox%2F%7E3%2FlCxl1pmVf30%2F Discussion was dominated by two stories, that of 13-year-old Adam Race, against whose parents a priest filed a restraining order, and of 5-year-old Alex Barton, who was voted out of his kindergarden class by his classmates, at the suggestion of his teacher, Wendy Portillo. These two incidents sparked some very heated and often acrimonious exchanges and remind me of why there’s a need to think about autistic persons and the community, in faith communities and all others. Also: It was reported that there had been 72 cases of measles so far in the US, the highest number since 2001—-and the number would only go up, while misinformation about vaccines continued. Sometimes it seems that everything, if not anything, could be said to cause autism (and that everything, and anything, has... Autism Vox blogs http://www.medworm.com/rss/comments.php?id=2074311 Wed, 31 Dec 2008 02:47:21 +0100 2074311 http://www.medworm.com/index.php?rid=2052844&cid=t_107361_133_f&fid=35096&url=http%3A%2F%2Ffeeds.b5media.com%2F%7Er%2Fb5media%2FAutismVox%2F%7E3%2FBl61jJRNTPs%2F It’s said to be something that parents of children with developmental disabilities experience. An article by Amy Basking and Heather Fawcett coins the terms “Empty Nest Envy,” as noted in today’s Orangeville Banner: While most parents can look forward to children spreading their own wings, there are some who look to the future with trepidation and uncertainty. Not just for themselves, but more importantly for their adult children who have developmental disabilities. These parents, when their children graduate from high school, suddenly find themselves supporting their adult child full-time. The reality for these parents can be daunting. In the article, the authors talk about how for one family their 28-year-old son remains with them. Despite thinking that he would b... Autism Vox blogs http://www.medworm.com/rss/comments.php?id=2052844 Fri, 19 Dec 2008 01:43:57 +0100 2052844 http://www.medworm.com/index.php?rid=2040115&cid=t_107361_133_f&fid=35096&url=http%3A%2F%2Ffeeds.b5media.com%2F%7Er%2Fb5media%2FAutismVox%2F%7E3%2F0mNa4v_a0hI%2F Today Easter Seals is unveiling the results of its Living with Autism Study. The study was done in cooperation with the Autism Society of America. 1,652 parents of children who have autism and 917 parents of typically developing children were surveyed about daily life, relationships, independence, education, housing, employment, finances and healthcare. The results are summarized on the Easter Seals blog: The Easter Seals Living with Autism Study results reveal parents raising children with autism are very concerned about the future independence of their children. In fact, they’re far more concerned than parents of typically developing children — nearly 80 percent say they’re extremely or very concerned about their children’s independence as an adult, compared to only 32 percent of... Autism Vox blogs http://www.medworm.com/rss/comments.php?id=2040115 Tue, 16 Dec 2008 22:22:49 +0100 2040115 http://www.medworm.com/index.php?rid=2005919&cid=t_107361_133_f&fid=35096&url=http%3A%2F%2Ffeeds.b5media.com%2F%7Er%2Fb5media%2FAutismVox%2F%7E3%2FIlrs31XXXc4%2F Housing for disabled adults in New Jersey. The current economic crisis, and its effect on the housing market. This post is about both of those topics. Don’t stop reading—this is an upbeat post, despite the subject matter. Certainly one wishes that the question of housing for disabled adults weren’t the sort of topic that is accompanied by words like “worries” and “depressing.” But it very much is, right now. In New Jersey, where we live, the waiting list of developmentally disabled adults wishing to move into government-supported community housing has over 8000 people on it. Last week’s report that 28-year-old Tara O’Leary died of starvation after being removed from a group home run by New Jersey’s Department of Developmental Dis... Autism Vox blogs http://www.medworm.com/rss/comments.php?id=2005919 Mon, 01 Dec 2008 17:30:36 +0100 2005919 http://www.medworm.com/index.php?rid=1961800&cid=t_107361_133_f&fid=37107&url=http%3A%2F%2Fwww.aspieweb.net%2Fgovt-sues-over-companion-dog%2F Apparently Federal Prosecutors have filed a lawsuit on behalf of a child with Aspergers Syndrome because his landlord placed burdensome restrictions on his need for a service dog including it had to be less then 10 pounds, carried through common areas, not be left alone for more than 2 hours, and $1 million USD in [...] (Source: AspieWeb.net) AspieWeb.net blogs http://www.medworm.com/rss/comments.php?id=1961800 Sat, 15 Nov 2008 06:54:14 +0100 1961800 http://www.medworm.com/index.php?rid=1951989&cid=t_107361_133_f&fid=35096&url=http%3A%2F%2Ffeeds.b5media.com%2F%7Er%2Fb5media%2FAutismVox%2F%7E3%2FPFNDJmYLcX0%2F In just about one month, I turn 40. Charlie is 11 1/2—-so when I’m 50, he’ll be 21, and when I’m 65, he’ll be 36, almost as old as I am now. Where will he be living? (With us?) What will he be doing? (School will be long over.) What opportunities will there be for him, or not? Yesterday’s Bergen Record describes Debbie Legutko, whose two adults sons—24-year-old Derek and 21-year-old Frank—live with her and her husband. Derek is autistic and holds two part-time jobs. Frank requires intensive medical care and is on a ventilator and oxygen. The Bergen Record notes that some 8,000 individuals with developmental disabilities are on the waiting list for residential supports and services at New Jersey’s Department of Human Services’ Division... Autism Vox blogs http://www.medworm.com/rss/comments.php?id=1951989 Tue, 11 Nov 2008 16:31:27 +0100 1951989 http://www.medworm.com/index.php?rid=1844589&cid=t_107361_86_f&fid=36669&url=http%3A%2F%2Ffadelibrary.wordpress.com%2F2008%2F10%2F01%2Fhome-truths-2008-north-west%2F identifies that housing waiting lists in the North West have risen 75% in the last five years, more than any other region. Close to half a million people are waiting for social housing in the region. House prices have risen over 80% in the last five years, well above the national average of 58%. On average homes in the region now cost almost 9 times incomes. Renewed house price rises are expected in the next five years. Posted in Grey Literature, Housing   Tagged: Grey Literature, Housing, Social Housing    (Source: Fade Library) Fade Library blogs http://www.medworm.com/rss/comments.php?id=1844589 Wed, 01 Oct 2008 15:52:04 +0100 1844589 http://www.medworm.com/index.php?rid=1826753&cid=t_107361_122_f&fid=36582&url=http%3A%2F%2Ffeeds.feedburner.com%2F%7Er%2FSharpBrains%2F%7E3%2F402091904%2F Conclusions Please Note: if you are an individual interested in programs for yourself and/ or a loved one, you can use these 10-Questions to Find the Right Brain Fitness Program For You. The checklist above, and the special report, are aimed at helping professionals making decisions on behalf of their organizations. American Seniors Housing Association, asha, Belmont Village Senior Living, brain, Brain Fitness, brain fitness centers, business case, checklist, cogmed, cognifit, cognitive benefits, cognitive exercise, Cognitive Training, cognitive vitality, Dakim, device, early users, Erickson Retirement Communities, Happy Neuron, hardware, health, healthcare, innovation, insurance, lumos labs, My Vigorous Mind, neuropsychologists, news, nintendo, Posit Science, retirement communities, retu... SharpBrains blogs http://www.medworm.com/rss/comments.php?id=1826753 Thu, 25 Sep 2008 00:46:58 +0100 1826753 http://www.medworm.com/index.php?rid=1811649&cid=t_107361_122_f&fid=36582&url=http%3A%2F%2Ffeeds.feedburner.com%2F%7Er%2FSharpBrains%2F%7E3%2F397229032%2F A few days ago, Rajendra, an Indian reader of our newsletter, told us that ASHA (the acronym for the American Seniors Housing Association, for whom we prepared this special report), means Hope in Hindi. Asha, everyone! Then, we saw a few excellent articles on Brain Fitness and SharpBrains in mmultiple languages and continents-time to practice our language skills!: Train your brain (Financial Times Germany): "Ob Gehirntraining etwas nützt ist nicht bewiesen. Aber in den USA boomt der Markt, Hersteller kooperieren mit Krankenkassen und Seniorenheimen. In Deutschland fassen die Spiele gerade erst Fuß." Toman auge ejercicios que adiestran la mente (Milenio, Mexico): "La clave está en encontrar actividades que estimulen más nuestra memoria." Trois nouvelles études IDATE... SharpBrains blogs http://www.medworm.com/rss/comments.php?id=1811649 Fri, 19 Sep 2008 13:58:57 +0100 1811649 http://www.medworm.com/index.php?rid=1794453&cid=t_107361_133_f&fid=35096&url=http%3A%2F%2Ffeeds.b5media.com%2F%7Er%2Fb5media%2FAutismVox%2F%7E3%2FrP4_jcRG9Hw%2F At the risk of being repetitive: Be sure to get your feedback in to the Interagency Autism Coordinating Committee (IACC). Send in what you think about comments about autism services by September 19, and also your comments about the draft of the Strategic Plan for ASD Research by September 30. Also, you can go here to review the NIH’s Autism Spectrum Disorder Research Portfolio. Last year (FY 2007), the National Institutes of Health (NIH) devoted $127 million to research autism spectrum disorders through “grants, contracts, research projects conducted as part of the NIH Intramural Research Program, and other mechanisms of support.” In addition, NIH invested $3.9 million in the development of the National Database for Autism Research (NDAR). In FY 2006, $108 million was dev... Autism Vox blogs http://www.medworm.com/rss/comments.php?id=1794453 Mon, 15 Sep 2008 16:42:30 +0100 1794453 http://www.medworm.com/index.php?rid=1780126&cid=t_107361_122_f&fid=36582&url=http%3A%2F%2Ffeeds.feedburner.com%2F%7Er%2FSharpBrains%2F%7E3%2F386733579%2F Conclusions. Vendors mentioned in the special report: Posit Science, Dakim, UCLA Memory Fitness, Nintendo, CogniFit, Cogmed, Lumos Labs, Happy Neuron, My Vigorous Mind. You can click here for purchase and download ($25). American Seniors Housing Association, Belmont Village, Brain Fitness, brain fitness centers, brain fitness program, brain fitness tools, CCRC, cogmed, cognifit, cognitive fitness, Dakim, Erickson, Happy Neuron, lumos labs, My Vigorous Mind, nintendo, Posit Science, Senior Star Living, seniors housing, seniors housing residents, UCLA Memory Fitness addthis_url = 'http%3A%2F%2Fwww.sharpbrains.com%2Fblog%2F2008%2F09%2F08%2Fbrain-fitness-centers-in-senior-housing-a-field-in-the-making%2F'; addthis_title = 'Brain+Fitness+Centers+in+Senior+Housing+-+A+Field+in+the+Making'; ... SharpBrains blogs http://www.medworm.com/rss/comments.php?id=1780126 Mon, 08 Sep 2008 17:42:18 +0100 1780126 http://www.medworm.com/index.php?rid=1775597&cid=t_107361_133_f&fid=35096&url=http%3A%2F%2Ffeeds.b5media.com%2F%7Er%2Fb5media%2FAutismVox%2F%7E3%2FWzPUvEiUjuQ%2F Without Trig, Governor Sarah Palin’s infant son who has Down Syndrome, what might discussions about her being Senator John McCain’s running mate be like? Gov. Palin’s older sister, Heather Bruce, has an autistic child, an article in today’s New York Times notes: Before her son was born, Ms. Palin went to extraordinary lengths to ensure that his arrival would not compromise her work. She hid the pregnancy. She traveled to Texas a month before her due date to give an important speech, delivering it even though her amniotic fluid was leaking. Three days after giving birth, she returned to work. But with Trig in her arms, Ms. Palin has risen higher than ever. Senator John McCain, the Republican nominee for president, says he selected her as his running mate because of h... Autism Vox blogs http://www.medworm.com/rss/comments.php?id=1775597 Mon, 08 Sep 2008 11:00:47 +0100 1775597 http://www.medworm.com/index.php?rid=1746380&cid=t_107361_133_f&fid=35096&url=http%3A%2F%2Ffeeds.b5media.com%2F%7Er%2Fb5media%2FAutismVox%2F%7E3%2FczwBN7B752I%2F Some software and other updates have been going on behind the scenes here, so if this blog loads slowly or (alas and argh) a comment does not go through, please bear with us. Over in the sidebar, the lists of comments and recent posts have not been updating (Learning All the Time (Whether You Know It Or Not) was posted on Friday morning) and I’m hoping that will get fixed soon. In the meantime, I wanted to point out discussions about the YouTube video of an autistic teenager getting beat up—about how autism, unlike measles, is not an infectious disease—–about the luxury of being able to choose to vaccinate or not—-whether hacker Gary McKinnon is a scapegoat or a public enemy. Also: Tara on an idea for housing for disabled adults in New Jersey on Sued: New Jers... Autism Vox blogs http://www.medworm.com/rss/comments.php?id=1746380 Sat, 30 Aug 2008 20:27:16 +0100 1746380 http://www.medworm.com/index.php?rid=1720392&cid=t_107361_133_f&fid=35096&url=http%3A%2F%2Ffeeds.b5media.com%2F%7Er%2Fb5media%2FAutismVox%2F%7E3%2FCMVyfgFq-Ck%2F The Interagency Autism Coordinating Committee (IACC) coordinates research and efforts pertaining to autism spectrum disorder (ASD) within the Department of Health and Human Services (DHHS). On August 11th, the National Institute of Mental Health issued a Request for Information (RFI): Priorities for the IACC Services Subcommittee for Autism Spectrum Disorders (ASD): The purpose of this Request for Information (RFI) is to seek input from Autism Spectrum Disorders (ASD) stakeholders including individuals with ASD and their families, autism advocates, State officials, scientists, health professionals, therapists, educators, and the public at large about what they consider to be high-priority issues and concerns surrounding services and supports for children, youth, and adults with ASD. The IA... Autism Vox blogs http://www.medworm.com/rss/comments.php?id=1720392 Wed, 20 Aug 2008 21:00:52 +0100 1720392 http://www.medworm.com/index.php?rid=1710254&cid=t_107361_93_f&fid=36658&url=http%3A%2F%2Fxavier-emmanuelle.blogspot.com%2F2008%2F08%2Fkey-to-good-health-living-downtown.html I didn't fully understand why studies repeatedly indicated that living in the suburbs is bad for you, but since moving downtown I get it completely. Here's why:Walking everywhere. I'm close enough to school, work, and almost everything I need that I almost never have to take public transit. This means that on some days I accumulate about 2 hours of walking, which will hopefully be good for my waistline, and is definitely good for my heart!Proximity to healthy food. When I lived in my old place, I was really close to the hospital (thus could get amazing salads), but far from any place to buy healthy groceries. Now, I'm walking distance to health food stores, grocery stores that showcase all kinds of great organic and veggie-friendly foods, and whole stores that specialize in fruit and veg. ... I'm Not Anti-Social, I'm Just Pre-Med blogs http://www.medworm.com/rss/comments.php?id=1710254 Thu, 14 Aug 2008 16:29:00 +0100 1710254 http://www.medworm.com/index.php?rid=1704772&cid=t_107361_133_f&fid=35128&url=http%3A%2F%2Fthiswayoflife.org%2Fblog%2F%3Fp%3D333 I had a pretty happy moment a a couple of weeks ago: The mobile home I used to own is now someone else’s. For some reason, this was just incredibly hard for me to get rid of. But, as of now, it is no longer mine. The new owner is thrilled with the trailer - it is better than where she moved from and she’s getting it fixed up a bit to be more energy efficient with new windows. Regular readers of this blog will know how good it feels for me to have gotten rid of this trailer. I no longer own any property I can’t personally move. (Source: NTs Are Weird) NTs Are Weird blogs http://www.medworm.com/rss/comments.php?id=1704772 Thu, 14 Aug 2008 01:01:50 +0100 1704772 http://www.medworm.com/index.php?rid=1683388&cid=t_107361_109_f&fid=35677&url=http%3A%2F%2Ffeeds.feedburner.com%2F%7Er%2FBrainBasedBusiness%2F%7E3%2F356957204%2Ffinancial_woes_that_make_you_s.html  Firms tend to go down in flames when finances trump people … or when monetary concerns snuff out human potential. Have you noticed?In fact, financial woes become the first indication that it may be time to reboot the brains where you work. Do you agree? Here are 5 instances  I’ve spotted where financial woes make people smarter:1. Gas prices leap off the chart … and people tend to consider the world’s distribution of wealth … so they pony up wiser travel options. They may not buy a smart car … but neither do they dash out to buy gas guzzlers proliferated before gas became gold.2. Housing takes a nosedive … and suddenly people begin to value their shelters as well as budget for reasonable living conditions they can afford.3. Health c... BrainBasedBusiness blogs http://www.medworm.com/rss/comments.php?id=1683388 Wed, 06 Aug 2008 03:14:38 +0100 1683388 http://www.medworm.com/index.php?rid=1675557&cid=t_107361_93_f&fid=36658&url=http%3A%2F%2Fxavier-emmanuelle.blogspot.com%2F2008%2F08%2Fdisjointed-but-happy-thoughts-from.html Hi Guys!Blogging to you from the organic, fair-trade coffee shop (with free internet) three blocks from my new apartment. I moved in on Thursday, and I absolutely love it so far. My apartment is quite cute, and has everything I need. It's so incredibly nice to have my own space.I spent last night exploring the neighbourhood (my new area has *night life* (gasp!)), and even though downtown is kinda smelly and has lots of traffic, I think I'm going to like living here! I *love* this little coffee shop, for instance, even though I'm trying to give up coffee and will not have a budget that accomodates fancy coffee drinking this year, but whatever.Today I'm by myself, but actually content. It's been a long long time since I've been alone and not lonely. Much goodness! (Source: I'm Not Anti-Socia... I'm Not Anti-Social, I'm Just Pre-Med blogs http://www.medworm.com/rss/comments.php?id=1675557 Sat, 02 Aug 2008 15:01:00 +0100 1675557 http://www.medworm.com/index.php?rid=1668986&cid=t_107361_93_f&fid=36658&url=http%3A%2F%2Fxavier-emmanuelle.blogspot.com%2F2008%2F07%2F24-hours.html My writing skills are seriously lacking today, but I'm going to write this out anyway and hopefully you'll get the idea of what I'm trying to say...I don't like change. Even little changes, like when someone corrected the way I type numbers into a keyboard. The new way is much faster, but I hated it at first just because it was different from what I was used to.Moving day is tomorrow, a pretty big change, and I'm on a bit of an emotional rollercoaster because of it. In some ways I'm glad to be moving: my new place is all mine, so no more dealing with roomate issues! I've certainly had enough of those to last a lifetime. I've got a bachelor apartment the size of a postage stamp, but it's worth it because I will have my own space and hopefully feel more autonomous. Plus, it's an all-women bu... I'm Not Anti-Social, I'm Just Pre-Med blogs http://www.medworm.com/rss/comments.php?id=1668986 Wed, 30 Jul 2008 16:16:00 +0100 1668986 http://www.medworm.com/index.php?rid=1665076&cid=t_107361_93_f&fid=36658&url=http%3A%2F%2Fxavier-emmanuelle.blogspot.com%2F2008%2F07%2Fweird.html I'm leaving in 5 minutes to go get the keys for my new apartment. For some reason I'm so nervous my hands are shaking and my stomach has butterflies. It's not like this is the first time I've done this...Bizarre. (Source: I'm Not Anti-Social, I'm Just Pre-Med) I'm Not Anti-Social, I'm Just Pre-Med blogs http://www.medworm.com/rss/comments.php?id=1665076 Tue, 29 Jul 2008 15:25:00 +0100 1665076 http://www.medworm.com/index.php?rid=1649648&cid=t_107361_93_f&fid=36658&url=http%3A%2F%2Fxavier-emmanuelle.blogspot.com%2F2008%2F07%2Fquote-of-weekend.html "Nora: Mom, can I bring my microscope to thebeach?Momma and Xavier simultaneously: NO!Nora (loudly): AWWWW..."That's a kid after my own heart I tell ya.It was a good weekend overall. I went to my parents' place, and alternated between being fed delicious food, napping, playing with Nora (Spice Girls kareoke with an 8 year old is particularly fun), and reading on the beach. Lovely I tell ya!Last night I took three hours of dance classes, which was exactly what I needed. I should do that more often, because it lifts a depressed mood like nothing else. It's not just the dancing, although it certainly helps, it's the companionship as well.Tonight: IKEA for apartment furnishings for my new place. Woohoo :) (Source: I'm Not Anti-Social, I'm Just Pre-Med) I'm Not Anti-Social, I'm Just Pre-Med blogs http://www.medworm.com/rss/comments.php?id=1649648 Tue, 22 Jul 2008 20:28:00 +0100 1649648 http://www.medworm.com/index.php?rid=1623230&cid=t_107361_93_f&fid=36658&url=http%3A%2F%2Fxavier-emmanuelle.blogspot.com%2F2008%2F07%2Flunch-hour-musings.html I decided to wander around my new neighbourhood on my lunch break. There are a couple of things I noticed:1) There are a lot of Starbucks establishments downtown. I mean, a LOT. As in, at every other corner! This is going to make the whole "quitting caffeine" thing much more difficult! (It's day 7; I cheated and had coffee once, cheated and had diet soda twice, but beyond that it's going well).2) I can't get over the number of people who smoke downtown. There are huge crowds of people puffing on cigarettes everywhere, so much so that I inhaled a fair amount of second-hand smoke. It's quite disturbing really.3) On a happier note, I noticed that the construction crews eat fruit for lunch. I don't know why this was so suprising, but it was a little bit of a shock to see these tough, burly guy... I'm Not Anti-Social, I'm Just Pre-Med blogs http://www.medworm.com/rss/comments.php?id=1623230 Mon, 14 Jul 2008 16:51:00 +0100 1623230 http://www.medworm.com/index.php?rid=1594066&cid=t_107361_158_f&fid=36160&url=http%3A%2F%2Fwww.popeinstitute.com%2Fcaregivingminutes%2F%3Fp%3D100 Since a reverse mortgage is essentially a loan against the money a home owner age 62 and older has already paid into the equity of the home, the income a senior receives from a reverse mortgage loan is tax free. The income (equity buyout) paid to a senior home owner can be received at almost any frequency the borrower prefers. The income payments can be received in installments on a monthly basis, lump sum payments upfront or on regular scheduled intervals, or a combination of payment arrangements. How you receive your income payments from a reverse mortgage can be affected by many factors. These factors include: 1. Why you need the money. Depending on Why You Think You Need a Reverse Mortgage the urgency of your need may influence the way you receive your money. However, if your home is ... CaregivingMinutes™ by Pope Institute blogs http://www.medworm.com/rss/comments.php?id=1594066 Mon, 07 Jul 2008 21:01:24 +0100 1594066 http://www.medworm.com/index.php?rid=1582379&cid=t_107361_93_f&fid=36658&url=http%3A%2F%2Fxavier-emmanuelle.blogspot.com%2F2008%2F07%2Fdespondency.html I miss Toronto. I was a much better person there, and a much happier one as well.There were two or three dance classes that I wanted to go to every day, and all of them with fantastic teachers. My current city is notably lacking in such resources, which is I think the primary reason why I'm finding it so hard to live here. There's also a tremendous amount of social isolation here -- people say that Torontonians are unfriendly, but I never found that to be true. Never. However, my current city is like living in social ice water.In Toronto I was healthy, and didn't have to make any effort to be good to myself -- eating healthy, sleeping properly, and getting tons of exercise just happened naturally. Here it's such a struggle.I think this explains why when I went to go put a deposit on my bac... I'm Not Anti-Social, I'm Just Pre-Med blogs http://www.medworm.com/rss/comments.php?id=1582379 Sun, 06 Jul 2008 01:22:00 +0100 1582379 http://www.medworm.com/index.php?rid=1575910&cid=t_107361_93_f&fid=36658&url=http%3A%2F%2Fxavier-emmanuelle.blogspot.com%2F2008%2F07%2Fhousing-dance-antibiotics-and-music.html 1) I've put an offer in on the bachelor apartment I saw today. Now I've just got my fingers crossed, praying that no one else had taken it in the last three hours! If you can spare an extra wish for me, I'd really appreciate it, cause I'd really really like to be done with housing drama now.2) In other news, I'm supposed to be performing in the first night of the dance competition tomorrow night, and yet I still don't have any information about it! I guess I'll just show up downtown tomorrow and hope that things go okay!! I'm an organized person, so it bugs me when other people are not... oh well, not much I can do about it! GAH, so much to do tomorrow... I have to go get more abx too :(3) I've discovered a couple of new artists that I'm really enjoying, so I'll leave you with the video fo... I'm Not Anti-Social, I'm Just Pre-Med blogs http://www.medworm.com/rss/comments.php?id=1575910 Fri, 04 Jul 2008 00:47:00 +0100 1575910 http://www.medworm.com/index.php?rid=1516525&cid=t_107361_87_f&fid=34902&url=http%3A%2F%2Fwww.futurepundit.com%2Farchives%2F005274.html Think the creation of multi-million populations takes centuries? Not any more. Cities get created very fast in China. In both China and the Persian Gulf, cities comparable in size to... (Source: FuturePundit) FuturePundit blogs http://www.medworm.com/rss/comments.php?id=1516525 Fri, 13 Jun 2008 04:00:00 +0100 1516525 http://www.medworm.com/index.php?rid=1594068&cid=t_107361_158_f&fid=36160&url=http%3A%2F%2Fwww.popeinstitute.com%2Fcaregivingminutes%2F%3Fp%3D98 What are the Types of Reverse Mortgages? There are essentially two types of reverse mortgages; a reverse mortgage through a federally sponsored program and a reverse mortgage directly through a private lender. Regardless of which type of program you choose (private or federal) both loans are issued through a private lending institution. The loan provisions, safeguards, maximum loan amounts, and requirements to issue a loan distinguish the two programs. Here’s the difference. The federal government; through the HUD (Housing and Urban Development) program, issues what is called the HECM loan. HECM stands for Home Equity Conversion Mortgage – it converts your home equity to cash, like all reverse mortgages. A HECM reverse mortgage is essentially a government insured reverse mortgage loan... CaregivingMinutes™ by Pope Institute blogs http://www.medworm.com/rss/comments.php?id=1594068 Mon, 09 Jun 2008 11:00:33 +0100 1594068 http://www.medworm.com/index.php?rid=1440211&cid=t_107361_158_f&fid=36160&url=http%3A%2F%2Fwww.popeinstitute.com%2Fcaregivingminutes%2F%3Fp%3D86 Meals on Wheels Association of America The Meals on Wheels Association offers delivered meals to seniors who continue to live in the community. The meals are delivered in various frequencies and meet nutritional and some disease specific guidelines. The local programs are often administered through churches, health care organizations and food pantries. To find a Meals on Wheels center go online to www.mowaa.org or call Meals on Wheels at (703) 545-5558 to locate a local meals on wheels provider near you. When calling to request meal services ask if the provider can accommodate dietary preferences and restrictions. For example, inquire about renal or cardiac diets. I have recommended meals on wheels for many years and it is a great resoure for seniors who are unable to grocery shop, unable... CaregivingMinutes™ by Pope Institute blogs http://www.medworm.com/rss/comments.php?id=1440211 Tue, 13 May 2008 21:28:47 +0100 1440211 http://www.medworm.com/index.php?rid=1440212&cid=t_107361_158_f&fid=36160&url=http%3A%2F%2Fwww.popeinstitute.com%2Fcaregivingminutes%2F%3Fp%3D85 For some, this is the worst idea you’ve ever heard! You may be asking yourself “Why in the world would I EVER do that?” Frankly, because it could be a win-win situation. Granted, if absence from your family makes the heart grow fonder by all means, let love rule. But, if you have an open and amorous relationship with your parents, even when you see them regularly, moving in might be a good thing. Let me tell you why. Having a parent move in or vice versa can be best if you are a long-distance caregiver or if one or both of you are struggling to manage the cost of living alone. For caregivers who live long-distance from their aging loved one the cost of travel can be prohibitive. With fuel, food, and care costs rising significantly, having multiple generations in a home has significa... CaregivingMinutes™ by Pope Institute blogs http://www.medworm.com/rss/comments.php?id=1440212 Tue, 13 May 2008 16:06:24 +0100 1440212 http://www.medworm.com/index.php?rid=1437184&cid=t_107361_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2008%2F05%2F12%2Fthe-situation-of-the-mortgage-crisis%2F Economist Robert Frank recently wrote an editorial for the Washington Post, titled “Don’t Blame All Borrowers,” in which he questions Senator McCain’s recent statement regarding possible that “it is not the duty of government to bail out and reward those who act irresponsibly, whether they are big banks or small borrowers.” Frank takes a more situational perspective. We excerpt portions of his argument below. * * * [W]hile Congress clearly should not rescue borrowers who lied about their incomes or tried to get rich by flipping condos, such borrowers were at most a minor factor in this crisis. Primary responsibility rests squarely on regulators who permitted the liberal credit terms that created the housing bubble. Hints of how things began to go awry a... The Situationist blogs http://www.medworm.com/rss/comments.php?id=1437184 Mon, 12 May 2008 04:01:49 +0100 1437184