From the NYTimes, some pretty astonishing numbers. 10% of all homes are valued at 75% or less of their purchase price mortgage.
One word: Yowza.
The relevant bit from the article:
New research suggests that when a home’s value falls below 75 percent of the amount owed on the mortgage, the owner starts to think [...]
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I’m in the middle of reading When Markets Collide by Mohamed A. El-Erian, and, although it’s a rather ho-hum book, I did find this interesting sentence:
PIMCO “looked closely at the way the housing market actually functioned at the microlevel. Their research included participating in “ride alongs” with local real estate and mortgage agents. [...]
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It seems that UsableMarkets is not alone.
Entrepreneurs and other “virtual” workers still have a need for a place to sit and do their work. And especially in New York, where space is at a premium, one sees a whole slew of new office spaces where one can rent a desk, full or [...]
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The NYTimes has a nice information graphic comparing housing affordability across cities. To smooth the data, they look at the average cost of a home vs. the median income in those cities. This provides us with a nice chart that allows for to compare housing affordability across cities.
But, from an information design [...]
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HT to information aesthetics for finding this video which visualizes the credit crisis. It’s not bad.
After watching, it then makes sense to read this article in the FT (subscription required), which analyzes how effective Obama’s new mortgage plan might be. In essence, the crucial question about whether Obama’s mortgage bailout plan [...]
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In the right column of Economix, the NY Times economics blog, there are some charts underneath all the links that are fairly fascinating. One is a year over year change in home prices, by city. The user can click through each city, one at a time.
This is great data, and even great chart [...]
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