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Economist Shiller Sees Potential for 'Double Dip' Recession

Economist Shiller Sees Potential for 'Double Dip' Recession
Wall Street Journal, August 28, 2010

With the U.S. economic recovery losing steam, the chances of a second phase of a slowdown are increasing, according to a leading economist. Speaking in The Wall Street Journal's The Big Interview show, Robert Shiller, professor of economics at Yale University, said he thought the second dip down of a so-called double-dip recession "may be imminent." Earlier this month, he told the Wall Street Journal he thought the chance of a double-dip recession, which he noted is a rare event, was greater than 50%.


Foreclosures of Million-dollar-plus Homes on the Rise
Los Angeles Times, August 28, 2010

The number of homes in the $1-million-and-up slice of the market that have become bank owned has tripled during the last three years in Los Angeles County, and the trend has shown little sign of slowing.


'Jingle Mail': Developers Are Giving Up On Properties
Wall Street Journal, August 28, 2010

Like homeowners walking away from mortgaged houses that plummeted in value, some of the largest commercial-property owners are defaulting on debts and surrendering buildings worth less than their loans. Companies such as Macerich Co., Vornado Realty Trust and Simon Property Group Inc. have recently stopped making mortgage payments to put pressure on lenders to restructure debts. In many cases they have walked away, sending keys to properties whose values had fallen far below the mortgage amounts, a process known as "jingle mail."


Paying Off the House in 15 Years
Wall Street Journal, August 29, 2010

A growing number of homeowners are choosing to pay down their mortgages at a faster rate--even if it means a substantial jump in their monthly payments.Between January and June, 26% of homeowners who refinanced chose a 15-year fixed-rate mortgage, according to data from CoreLogic, a provider of financial, property and consumer information. During all of 2009, 18.5% of borrowers who refinanced opted for a 15-year term.

Posted: Mon, August 30 2010 8:59 AM by Octavion
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Comments

Remortgage said:

With the U.S. economic recovery losing steam, the chances of a second phase of a slowdown are increasing.

Joseph

# August 30, 2010 11:19 PM

Marcel said:

I grew up in the same house my mother had grown up in.  Every inch of our cozy cape had a story like when my gatrdfanher used too much shalack or my parents' puppy chewed through a door or my fashion forward grandmother had gone on one of her redecorating kicks, inspired by the latest trends.  Our house was a keeper of memories, a place that held generations of dreams, laughter and love.  When my husband and I were living in Philadelphia in an apartment and had our daughter, the constant driving to and from Long Island so our daughter could know a piece of that magic visiting my family here became exhausting.  We longed for our own home in which to house our family memories.  We rushed into buying a house during the frenzied market and are now stuck with a lemon in what has become a stressful neighborhood with vacant houses in foreclosure and loud neighbors who enjoy quarreling with one another and whatnot.  And we've learned to stress with our kids that home is wherever we are together.  Yet, we all do yearn to find a house that feels more like a home.

# March 10, 2012 8:11 AM

Riasat said:

This one sounds raelly interesting, and definitely different than what I've got on my shelf right now! Adding it to my tbr! You can see my WoW over at  if ya like!CourtneyFollowing you on twitter! (FuzzyCoffeeBks)

# March 12, 2012 10:49 PM
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