For the second time since 2011, the federal government filed suit against the owners of two La Nopalera restaurants, claiming the owners didn’t pay its workers minimum wage. 343 more words
Tags » Postings
No one knows for sure just how many people Patrick Sawyer came into contact with the day he boarded a flight in Liberia, had a stopover in Ghana, changed planes in Togo… 1,163 more words
“The unusual price pattern, with prices rising at an increasing rate, was already well entrenched before the widespread adoption of alternative mortgage products...such as adjustable rate mortgages, interest-only mortgages, negative equity mortgages...
…and before derivative “insurance” had become prominent markers of the greatest of all national housing bubbles. Hence the bubble was exhibiting clear evidences of the presence of price momentum…buying in proportion to price increases….in the years before the mortgage market’s structural features had become prominent; before the Fannie Mae and Freddie Mac scandals of 2003 and 2004; and before 2005 when 45 percent of first-time home buyers paid no money down. 356 more words
“For more than sixty years, Federal Reserve intervention in the market for Treasury securities has been used as the principle monetary policy instrument in the United States. We show that these interventions, which alter short-term interest rates, had their primary impact on residential mortgage lending until the Great Recession...
(11.13 Conclusions…”Rethinking Housing Bubbles”)
…One effect of overuse of this instrument was an excessively volatile residential construction sector. More recently, the policy has generally led to high volatility in house prices, household wealth, and economic activity. 291 more words
“We identify the following three primary sources that sustained the bubble:
- The continued large inflow of foreign capital.
- The unprecedented (for fifty-two years up to that time) ease in monetary policy, 2001-2003. 185 more words
“For the upswing of house prices from 1997 through 2001, we suggest the following four possible stage-setting events:
- The bipartisan Taxpayer Relief Act of 1997, which exempted home resales from capital gains taxes up to a maximum of $500,000. 270 more words