The quotes below are from a review of a new book by Raghuram Rajan, former chief economist at the International Monetary Fund, called “Fault Lines: How Hidden Fractures Still Threaten the World Economy.” A sample:
The credit market—at least as regards to housing—was distorted by government policy, not by a sudden and mysterious escalation in “greed.” [...]

Why did this woman pay $500,000 for a 2-week rental?
Excerpts from the New York Post:
…she’s spending a record-breaking $500,000 for a two-week summer rental in the Hamptons, but not just to go to the beach and shop at tony boutiques — she’s hoping to land the love of her life.
“The dating pool is much [...]

The Wall Street Journal has a news article on how Detroit wrecking crews are preparing to tear down the boyhood home of one-time presidential candidate and former Massachusetts Gov. Mitt Romney. Detroit is losing a small piece of its history. But the project is part of a demolition effort that is just now gaining momentum [...]

The Real Estate Gossip Gosselin Report.
The property, which was the setting for the start of the “Jon & Kate Plus 8″ reality TV series, was originally listed for sale back in March of 2009 for $325,000. After 10 months, one price reduction, a lien, and a much-publicized divorce, the home finally sold for $258,000 [...]

I have to admit that I’m one of those people who watch reality television. Lately, I’ve been watching the Bravo TV series “Million Dollar Listing”.
The show follows three young, stylish and incredibly self-centered real estate agents who make hefty commissions listing and selling mansions in Beverly Hills, Malibu and all sorts of other ritzy parts [...]

Good morning, and have I got news for you on this last Thursday of October.
The American economy grew last quarter. It really did. The Commerce Department reports that gross domestic product — the sum of all goods and services — expanded from July to September at an annual rate of 3.5 percent. The new GDP [...]

Reality TV’s tempestuous screwlyweds, the Gosselins, who are in the process of unloading each other, are struggling to sell their first home, a 5-bedroom, 2 1/2-bath property in Elizabethtown, Pa.
The house, which has been on the market since early this year, has had its original asking price of $325,000 drop to $299,000. The Gosselins paid [...]

Realtor.com just came up with a list of houses you can buy for $8,000. That’s right–the government is basically paying you to take them—if you’re a first time homebuyer. The site says there are about 200 such listing nationwide, of the four million the site tracks.
Note: Such properties will likely need work. And closing costs [...]

Here’s a story about a Lego house that was built for a BBC show called “Toy Stories”. It ws just demolished. Read More
View the Lego House

Does anyone see the eerie similarities between “cash for clunkers” and “teaser home loans”?
Marguerite Quantaine wrote a letter to the editor of The Wall Street Journal, here is portion of what she wrote:
“With America still reeling from the collapse of the housing market brought on by teaser loans promising people homes they couldn’t afford, the [...]