"At the request of President Clinton, HUD is working with dozens of national leaders in government and the housing industry to implement the National Homeownership Strategy, an unprecedented public-private partnership to increase homeownership to a record-high level over the next 6 years.” << MORE >>

Less than 30% of respondents have heard of the National Homeownership Strategy. << MORE >>

More than 4 years into the collapse of the Housing Bubble much has been written and spoken on the subject. Genuine economic understanding has proven to be elusive. << MORE >>

In February the number of persons working part time for economic reasons (involuntary part-time workers) increased by 475,000 from January to 8.8 million. This change is ignored by the widely reported Unemployment Rate. << MORE >>

The Government's coordinated attempt to prop up housing prices has failed. Housing sales collapsed in January: Prices to follow... << MORE >>

The Government’s strategy in dealing with the Housing Collapse and broader Depression has been consistent. Policy makers continue to interfere in the private sector in ways which are unsustainable but create short-lived economic distortions which establish the fleeting impression of stability or recovery. In pursuing this strategy our misguided politicians only succeed in postponing a resolution to the downturn and worsening our economic predicament. << MORE >>

Market-by-market price changes required to reach pre-bubble, inflation-adjusted price equilibrium. << MORE >>

Since housing prices began to decouple from the fundamentals of value in 1997, it makes sense to analyze current prices relative to the sustainable valuations which existed before the distortion. Calculating what 1997 home values would be today, adjusted only for inflation, provides an interesting perspective on how much farther prices might be expected to fall. << MORE >>

5/8/09 - “In only a few months it should be evident to all intellectually honest people that the Stimulus Bill was an ineffective, waste of money relative to the professed benefit of such spending. Taking into account that we will be in debt by an additional $787 billion, which will act to restrain future economic activity, and the Stimulus Bill may represent the most egregious waste of money in U.S. history.” << MORE >>

The poor are disproportionately affected by public policies which created and are extending the economic depression. << MORE >>

Pre-Bubble Housing Prices Were Remarkably Stable << MORE >>

Pre-Bubble Homeownership Rates Were Remarkably Stable << MORE >>

“We have come to the inescapable conclusion that owning our own building was the smartest long-term investment for the association" - The Mortgage Bankers Association, 2007 << MORE >>

We are two and a half months into Hank Fishkind’s latest prediction of economic recovery. Mr. Fishkind, a Florida-based economist and comedian, has assembled an impressive record misdiagnosing the Housing Market and underestimating the damage caused by its collapse over the past six years. << MORE >>

According to a revision in today’s report, from March 2008 to April 2009 1.2 million more jobs were lost than had been previously reported by the Bureau of Labor Statistics. << MORE >>

One of the nation’s biggest mortgage industry players repeatedly warned the Federal Reserve, the Federal Deposit Insurance Corp. and other bank regulators during the housing bubble that the U.S. faced an imminent housing crash. But bank regulators not only ignored the group's warnings, top Fed officials also went on the airwaves to say the economy was "building on a sturdy foundation" and a housing crash was "unlikely." << MORE >>

The Case-Shiller 10-City Index remains 33% above inflation-adjusted, pre-bubble levels. Seven out of 19 scrutinized markets remain overvalued by at least 31.5% relative to the 1997 base value. << MORE >>

When it comes to regretting a purchase, one in five who used the government’s $4,500 incentive said they now wish they hadn’t. The buyer's remorse rate for non-Clunkers buyers was one in 20. << MORE >>

The Four Largest Budget Deficits in U.S. History << MORE >>

For the first time in U.S. history more public sector employees (7.9 million) belong to a union than do private sector employees (7.4 million), despite there being 5 times as many workers in the private sector. << MORE >>

The legacy of steroid-induced GDP gains may be to accelerate the onslaught of debilitating inflation even as the real economic damage has yet to be halted or reversed. This is the economic crime being perpetuated against the American people by a political administration that does not understand how wealth is created, where jobs come from or why the economy continues to suffer despite make-believe GDP gains. << MORE >>

"Ten months into the government’s third program in two years to stop a record wave of foreclosures, homeowners, housing counselors, consumer advocates and attorneys working with borrowers report that the latest effort is falling far short of its goal." << MORE >>

In December existing home sales declined by the largest amount (month-to-month) in 40 years. Based on media reports, politicians, institutional economists and housing cheerleaders were apparently surprised by steepness of the collapse, but drew solace in year-over-year gains (I guess they were worried that housing sales would decline forever?). << MORE >>

What is the worst case scenario if in fact we were to see housing prices come down substantially across the country? Ben Bernanke: "Well I guess I don’t buy your premise. It’s a pretty unlikely possibility. We’ve never had a decline in house prices on a nationwide basis. So what I think is more likely is that house prices will slow, maybe stabilize. Might slow consumption spending a bit. I don’t think it’s going to drive the economy too far from its full employment path though. I am hopeful that, confident in fact, that the bank regulators will play close attention to the kinds of loans that are being made, making sure that underwriting is done right. But I do think that this is mostly a localized problem and not something that is going to affect the national economy." << MORE >>

Today houses are cheaper than they have been since 2003. Yet, based on a thorough understanding of the fundamentals which determine housing prices, there may never have been a worse time to purchase a home. << MORE >>