The myth of the single bubble behind The Great Unwind -- manifest as the global credit crunch -- has essentially been dumped in the last few months and subprime mortgage default, a USD 1.5 trillion challenge within the USD 5 trillion mortgage based assets envelope, is seen as a component of a much larger overwhelming global crisis with unprecedented scale, speed, severity and synchronicity. The global crisis has wiped a staggering USD 50 trillion off the value of financial assets currency, equity and bond markets worldwide last year, according to the Asian Development Bank. The truth that there are as many as eight bubbles at play...
With the difficult housing market and rising number of foreclosures leaving more and more homes standing vacant, some companies are seeking meticulous residents to live in the houses and keep them from going to rack and ruin. Homes sell at a faster rate when they're occupied. This unique solution to a growing problem allows people like 49-year-old Rose Duran to live in a dream house for little rent, but with the condition she can be asked to move out at any time.
We have a bunch of idiots on Wall Street that are kicking sand in the face of the American taxpayer," an enraged McCaskill said on the floor of the Senate. "They don't get it. These people are idiots. You can't use taxpayer money to pay out $18 billion in bonuses."
On the merged map, dense violent-crime areas are shaded dark blue, and Section8 addresses are represented by little red dots. All of the dark-blue areas are covered in little red dots, like bursts of gunfire. The rest of the city has almost no dots.
But Edith, I said. You're a folk hero.
I showed her some of the 200 e-mail messages I'd gotten from readers, some from as far away as Seoul, South Korea. They hailed her for valuing something other than money. For being a lone holdout against relentless Seattle yuppification.
Comparing housing costs in 210 metropolitan areas with the wages earned by workers in 60 occupations, the study found that homeownership is often unaffordable for workers in each of the five-fastest growing occupations -- registered nurses, retail salespeople, customer-service representatives, food-preparation workers and office clerks. Registered nurses, who typically have high salaries, were unable to purchase a median-priced home in 108 of the markets.
