Is Housing Bubble Losing Air?
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After 911 and during the war on terror, the housing market
has helped keep America’s
economy going. Monday, this Labor Day, we broadcast an archived edition of To
the Point on whether the housing bubble is losing air. Will the promise of short-term profit leave
homeowners facing long-term debt?
Making News
Katherine Harris Shunned by Party Leaders in Florida Senate Race ()
In 2000, she was the Florida Secretary of State celebrated by Republicans and blamed by Democrats for helping make George Bush President of the US. Now, Katherine Harris is a member of Congress, who wants to oust Democrat Bill Nelson from the US Senate. In the latest poll candidate Harris is leading three primary opponents by double digits--even though she's worn out her welcome with party leaders.
Guests:
- Adam Smith: Political Editor for the St. Petersburg Times, @adamsmithtimes
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Main Topic
Is Housing Bubble Losing Air? ()
For more than a year, some economists have predicted the bursting of what they call the housing "bubble." When we first aired this program on May 9--things haven't improved in the meantime, Fortune magazine said the boom was already over. Since then, sales of new homes have fallen and the inventory of unsold homes is at a record high. If prices drop, what's the fate of mortgage-holders with interest-only loans who think their houses are banks? What are the consequences for the economy as a whole?
Guests:
- Tom Donlan: Editorial Page Editor, Barron's National Business and Financial Weekly, @barronsonline
- Michael Hudson: Professor of Economics, University of Missouri at Kansas City
- David Lereah: Chief Economist, National Association of Realtors
- Andrew Laperriere: Managing Director, International Strategy & Investment Group
Links:
Reporter's Notebook
Immigration's Impact on American Wages ()
Labor Day celebrates America's working people, and one of the major issues impacting them is illegal immigration. That’s one of the major issues on Capitol Hill and this November's elections. The House wants to crack down on 12 million undocumented workers and make it harder for more to come in; the Senate would let most stay and offer a "path to citizenship." The unresolved question is whether they hurt the prospects of the Americans who got here first.
Guests:
- Roger Lowenstein: Financial journalist
Links:
Transcripts of To the Point are available from The Transcription Company, (818) 848-6500, or www.transcripts.net. A CD copy is available by calling 1.888.600.5279
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