News
Bloomberg | Sales of U.S. Existing Homes Slump to Lowest Since July 2012
Sales of previously owned U.S. homes dropped in January to the lowest level in more than a year as harsh winter weather combined with a lack of supply, tight credit and declining affordability slowed demand.
Fox News | Fewer US homes repossessed by lenders in January, but some states could see foreclosure surge
Lenders repossessed fewer U.S. homes in January, bringing the number of completed foreclosures down to the lowest level in more than six years
Bloomberg | G-20 Pushes Growth as Stimulus Withdrawal Backed, Draft Says
The Group of 20 will take “concrete actions” to bolster growth while backing the normalization of monetary policy in advanced economies, according to a draft communique seen by Bloomberg News.
WSJ | College Uses Test Data to Show Value
Cash-Conscious Families Clamor for Numbers on How Much Students Learn.
Econ Comments & Analysis
WSJ | Mortgage Troubles Near Prerecession Levels
Five years after the end of the U.S. recession, the number of Americans who are behind on their mortgages and the backlog of homes in the foreclosure process are finally narrowing to prerecession levels.
CNN Money | Mortgage bailout now profitable for taxpayers
Fannie Mae's latest quarterly profit means taxpayers have now turned a profit on the $187 billion bailout of Fannie Mae and Freddie Mac.
CNBC | Cost of owning a home is spiking in 2014
The sharp rise in home prices in 2013 caused two conflicting results: The return of positive home equity for hundreds of thousands of borrowers and considerably weaker affordability for an equally large pool of potential homebuyers.
Fiscal Times | Is Poor Forecasting the Achilles Heel of Economics?
Unfortunately, much economic forecasting is quite cosmetic. Forecasters are often trying to predict estimates rather than reality. This is an occupational hazard resulting from the common practice of continually revising economic data, sometimes long after the fact.
Cato Institute | GOP Should Support Free Trade
Free trade means removing harmful policies. Trade agreements are an effective way to make that happen, and trade promotion authority is meant to facilitate those agreements.
Blogs
WSJ: Real Time Economics | As G-20 Starts, World Bank Highlights Global Risks
The World Bank gave G20 emerging market officials fresh ammunition in their efforts to urge greater caution by the U.S. Federal Reserve as the central bank considers its easy money exit strategy.
