Archives for June 2009

Money Trail of Housing Bust Leads to Congress

By Mike Colpitts The repeal of the law that produced the current housing depression was made by Congress in 1999, and it took just eight years before it would nearly destroy the U.S. economy. At the peak of the real estate bubble lobbyists gave more than $350-million to members of Congress. Lawmakers passed laws that weakened the nation's financial structure and regulatory oversight, setting in motion the series of failures leading to the … [Read more...]

Graveyards of the Housing Bust are Zombie Developments

Graveyards of the Housing Bust By Mike Colpitts They are littered from coast to coast and do not discriminate. Zombie subdivisions and housing developments are scattered across the nation like nothing since the Great Depression. They are the wreckage of failed developments and urban sprawl gone mad during the real estate boom, left to rot in the summer sun. Ghost Towns in the old west were vibrant communities given to growth and prosperity. … [Read more...]