Interesting Housing News Links (February 16, 2009)

* Flood victims disagree on tax (Steve Gravelle, The Gazette)

Homeowner Jeff Gillespie talks to Dale Todd, co-chair of Vote Yes! For Our Neighbors during a tour of the flood-damaged home of Doug Ward on Monday in northwest Cedar Rapids. Gillespie, who has not been in his flood-damaged home at 1431 Ellis Blvd. NW, since June 25, said the house he bought farther down on Ellis Boulevard NW will need to be torn down to make way for the construction site on th…

* Nothing wrong with boring (The Financial Times)

Sir, Amid the opprobrium being heaped on the senior executives of our major banks, are we not in danger of ignoring the role played by institutional investors in the current debacle? It is well to remember that, when times were good, Lloyds TSB was castigated by analysts and fund managers alike for being boring the stock market equivalent of being told to stand in the corner with a dunce’s …

* Public enemy #1 (Economist)

SPEAKING of populist accounts of one-dimensional villains, Time magazine has compiled a list of the 25 people to blame for the financial crisis. Conor Clarke would like to add Time to the list because of its culpability in perpetuating the housing bubble. He finds a 2006 story which did not adequately warn of the dangers lurking in the housing market, according to Mr Clarke, and which contains …

* Asian markets fall as Japan’s recession deepens (Jeremiah Marquez)

Most Asian stock markets fell Monday, as new figures showed Japan’s economy contracted at its quickest pace in 35 years and Group of Seven finance ministers warned the global slump will drag on through most of the year. European shares opened lower.Japan’s worse-than-expected fourth quarter GDP numbers were a sobering reminder of the toll on Asia’s export-driven economies as world demand…

* World markets fall as Japan’s recession deepens (Louise Watt)

LONDON | World stock markets fell Monday, after new figures showed Japan s economy contracted at its quickest pace in 35 years and a weekend summit of Group of Seven finance ministers provided few concrete proposals to counter the economic crisis. Drops in Europe followed losses in Asia, but trading volumes were subdued as U.S. markets remained closed for Presidents Day. Britain s…

* Airstrike in Afghanistan kills Taliban commander (Heidi Vogt)

A coalition airstrike has killed a powerful Taliban commander who broke a promise to renounce violence after village elders persuaded President Hamid Karzai to free him from prison, officials said Monday.

* Answer Desk: Homeowner bailout? (John W. Schoen, Newsweek)

Since the mortgage mess began unfolding two years ago, homeowners losing their homes have been asking: Can nothing be done to stop this? Now, with the government spending or committing trillions of dollars to rescue the financial system, hundreds of readers are asking: Where’s my bailout?

* Forex failure continues in Poland (The Financial Times)

Its getting bleaker by the minute in Eastern Europe. In case you didnt catch the latest from the Telegraphs Ambrose Evans-Pritchard, he warned at the weekend how a growing crisis in Eastern Europe could cause nothing less than a total collapse in the West, or as he put it: If one spark jumps across the euro zone line, we will have global systemic crisis within days.

* Fotsam and Jetsam: NIMBY syndrome in York? (Jim Carter, Portsmouth Herald)

The recent survey of York residents revealed that we’re not much different than folks in other similar towns. We’d like to see more affordable housing … just not in our own neighborhood. It’s reminiscent of the old problem the proponents of nuclear power suffered, which then was commonly referred to as NIMBY (sure, fine … but not in my back yard).

* Spanish economy contracts sharply (Bloomberg News)

MADRID : Spain’s economy experienced it biggest contraction in more than 15 years in the fourth quarter, pushing its unemployment rate to the highest level in Europe, the National Statistics Institute said Thursday.


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