FROM Daniel McGinn
As Housing Crisis Worsens, More People Staying Put Sales of new and existing homes dropped more than expected last month, even though houses are cheaper, with the median price reduced from $208,000 last year at this time to $180,000 today. Daniel McGinn is national correspondent for Newsweek magazine and author of House Lust : America's Obsession with Our Homes.
The Housing Crisis Is Eating America's Economy Home foreclosure may become an industry in itself. Today's New York Times features a California company called You Walk Away , which is looking for clients whose mortgages are now worth more than their houses, so they can't refinance to meet rising payments. For less than a thousand dollars, You Walk Away will show them how to deliver their problems back to the bank by foreclosure. Part of the problem is the idea that housing is not just a place to live, but a gold-plated investment whose value just keeps going up. What goes up must come down, leaving tens of thousands of people with increased payments on loans worth more than their houses. Are greedy banks and investors at fault? What about home buyers themselves? And what's the impact on an economy that depends on consumer spending?
Trump plays scolder-in-chief with NATO allies At the opening of NATO’s dramatic new headquarters in Brussels today, President Trump acknowledged that Article 5 — promising that “an attack on one nation is an attack on all” -- has only been invoked one time: in the aftermath of September 11. But the President failed to provide what 27 other Alliance members have been waiting for: a re-commitment by America’s new leader to Article 5. Instead, they got a scolding.
What is Trump's plan for Middle East peace? On his first foreign tour, President Trump has promised "peace" between Israel and the Palestinians. Are there any details for re-starting talks that have been stalled for the past three years?
Ex-FBI Director Comey tells his side of the story Today, former FBI Director James Comey came close to calling the President who fired him a liar. The White House denied the claim and called it insulting, but Republican Senators did not challenge Comey’s truthfulness. Many questions remain: did the President try to obstruct a federal investigation? Later, we’ll go behind the “velvet rope” for a look at 5-Star health care for the richest Americans.