{"id":26443,"date":"2010-12-12T21:06:49","date_gmt":"2010-12-13T05:06:49","guid":{"rendered":"http:\/\/lukeford.net\/blog\/?p=26443"},"modified":"2010-12-12T21:06:49","modified_gmt":"2010-12-13T05:06:49","slug":"the-housing-boom-and-bust","status":"publish","type":"post","link":"https:\/\/lukeford.net\/blog\/?p=26443","title":{"rendered":"The Housing Boom And Bust"},"content":{"rendered":"<p>I&#8217;ve been blogging about mortgage refinance for a couple of years, strongly influenced by my free market economics background at UCLA and by <A HREF=\"http:\/\/www.amazon.com\/Housing-Boom-Bust-Thomas-Sowell\/dp\/0465018807\">this 2009 book by Stanford economist Thomas Sowell<\/a>:<\/p>\n<ul>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/12\/did-you-hear-about-the-89-square-foot-house\/\" title=\"Did You Hear About The 89-Square Foot House?\">Did You Hear About  The 89-Square Foot House?<\/a><\/li>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/12\/home-prices-fall-more-quickly-in-big-cities\/\" title=\"Home Prices Fall More Quickly In Big Cities\">Home Prices Fall  More Quickly In Big Cities<\/a><\/li>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/12\/should-banks-stall-foreclosures-while-borrowers-seek-better-deals\/\" title=\"Should Banks Stall Foreclosures While Borrowers Seek Better  Deals?\">Should Banks Stall Foreclosures While Borrowers Seek Better  Deals?<\/a><\/li>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/12\/did-fannie-mae-freddie-mac-contribute-to-the-foreclosure-crisis\/\" title=\"Did Fannie Mae, Freddie Mac Contribute To The Foreclosure  Crisis?\">Did Fannie Mae, Freddie Mac Contribute To The Foreclosure  Crisis?<\/a><\/li>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/12\/foreclosures-account-for-1-in-4-home-sales-in-3rd-quarter\/\" title=\"Foreclosures Account For 1 In 4 Home Sales In 3rd Quarter\">Foreclosures  Account For 1 In 4 Home Sales In 3rd Quarter<\/a><\/li>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/12\/do-higher-higher-fico-requirements-disproportionately-discriminate-against-african-american-and-latino-borrowers\/\" title=\"Do Higher higher FICO requirements disproportionately  discriminate against African American and Latino borrowers?\">Do Higher  higher FICO requirements disproportionately discriminate against African  American and Latino borrowers?<\/a><\/li>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/12\/bank-of-america-still-ruing-its-purchase-of-countrywide-merrill-lynch\/\" title=\"Bank of America Still Ruing Its Purchase Of Countrywide, Merrill  Lynch\">Bank of America Still Ruing Its Purchase Of Countrywide, Merrill  Lynch<\/a><\/li>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/12\/in-october-consumer-borrowing-made-its-largest-jump-in-more-than-two-years\/\" title=\"In October, Consumer Borrowing Made Its Largest Jump In More  Than Two Years\">In October, Consumer Borrowing Made Its Largest Jump In  More Than Two Years<\/a><\/li>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/12\/foreclosed-by-mistake\/\" title=\"Foreclosed By Mistake\">Foreclosed By Mistake<\/a><\/li>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/12\/bank-pay-off-2-million-to-settle-discrimination-suit\/\" title=\"Bank Pay Off $2 Million To Settle Discrimination Suit\">Bank Pay  Off $2 Million To Settle Discrimination Suit<\/a><\/li>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/12\/banks-fair-housing-practices\/\" title=\"Banks' Fair-Housing Practices\">Banks&#8217; Fair-Housing Practices<\/a><\/li>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/12\/bank-complaints-way-up\/\" title=\"Bank Complaints Way Up\">Bank Complaints Way Up<\/a><\/li>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/12\/trial-lawyers-vs-bankers\/\" title=\"Trial Lawyers Vs Bankers\">Trial Lawyers Vs Bankers<\/a><\/li>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/12\/waiting-for-lower-mortgage-rates\/\" title=\"Waiting For Lower Mortgage Rates\">Waiting For Lower Mortgage  Rates<\/a><\/li>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/12\/henry-cisneross-plans-to-help-home-buyers\/\" title=\"Henry Cisneros's Plans To Help Home Buyers\">Henry Cisneros&#8217;s  Plans To Help Home Buyers<\/a><\/li>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/12\/the-coming-revolution-in-home-financing\/\" title=\"The Coming Revolution In Home Financing\">The Coming Revolution  In Home Financing<\/a><\/li>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/12\/underwater-borrowers\/\" title=\"Underwater Borrowers\">Underwater Borrowers<\/a><\/li>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/12\/the-return-of-credit-aka-risky-lending\/\" title=\"The Return Of Credit AKA Risky Lending\">The Return Of Credit AKA  Risky Lending<\/a><\/li>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/12\/letting-bad-banks-die\/\" title=\"Letting Bad Banks Die\">Letting Bad Banks Die<\/a><\/li>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/12\/have-you-been-to-a-foreclosure-auction\/\" title=\"Have You Been To A Foreclosure Auction?\">Have You Been To A  Foreclosure Auction?<\/a><\/li>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/12\/lawsuits-over-mortgage-modifications\/\" title=\"Lawsuits Over Mortgage Modifications\">Lawsuits Over Mortgage  Modifications<\/a><\/li>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/12\/messed-up-foreclosure-papers\/\" title=\"Messed Up Foreclosure Papers\">Messed Up Foreclosure Papers<\/a><\/li>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/12\/the-new-consumer-financial-protection-bureau\/\" title=\"The New Consumer Financial Protection Bureau\">The New Consumer  Financial Protection Bureau<\/a><\/li>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/12\/dealing-efficiently-with-foreclosures\/\" title=\"Dealing Efficiently With Foreclosures\">Dealing Efficiently With  Foreclosures<\/a><\/li>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/12\/californias-foreclosures-jump-19-in-third-quarter\/\" title=\"California's Foreclosures Jump 19% In Third Quarter\">California&#8217;s  Foreclosures Jump 19% In Third Quarter<\/a><\/li>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/12\/wells-fargo-refiles-55000-foreclosures\/\" title=\"Wells Fargo Refiles 55,000 Foreclosures\">Wells Fargo Refiles  55,000 Foreclosures<\/a><\/li>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/12\/what-is-a-mortgage-servicer\/\" title=\"What Is A Mortgage Servicer?\">What Is A Mortgage Servicer?<\/a><\/li>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/12\/israels-housing-boom\/\" title=\"Israel's Housing Boom\">Israel&#8217;s Housing Boom<\/a><\/li>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/12\/mortgage-rates-jumped-in-early-november\/\" title=\"Mortgage Rates Jumped In Early November\">Mortgage Rates Jumped  In Early November<\/a><\/li>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/12\/lenders-to-monitor-borrowers-over-length-of-a-loan\/\" title=\"Lenders To Monitor Borrowers Over Length Of A Loan\">Lenders To  Monitor Borrowers Over Length Of A Loan<\/a><\/li>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/12\/thousands-of-condos-lose-fha-funding-eligibility\/\" title=\"Thousands Of Condos Lose FHA Funding Eligibility\">Thousands Of  Condos Lose FHA Funding Eligibility<\/a><\/li>\n<\/ul>\n<h3 class=\"post_list_date\">December 11, 2010<\/h3>\n<ul>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/11\/the-fair-housing-act\/\" title=\"The Fair Housing Act\">The Fair Housing Act<\/a><\/li>\n<\/ul>\n<h3 class=\"post_list_date\">December 10, 2010<\/h3>\n<ul>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/10\/californias-simple-foreclosure-process\/\" title=\"California's Simple Foreclosure Process\">California&#8217;s Simple  Foreclosure Process<\/a><\/li>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/10\/revising-the-fico-score\/\" title=\"Revising The FICO Score\">Revising The FICO Score<\/a><\/li>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/10\/the-joys-and-oys-of-shared-home-ownership\/\" title=\"The Joys And Oys Of Shared Home Ownership\">The Joys And Oys Of  Shared Home Ownership<\/a><\/li>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/10\/testing-the-housing-market\/\" title=\"Testing The Housing Market\">Testing The Housing Market<\/a><\/li>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/10\/fannie-mae-opens-up-centers-to-counsel-distressed-homeowners\/\" title=\"Fannie Mae Opens Up Centers To Counsel Distressed Homeowners\">Fannie  Mae Opens Up Centers To Counsel Distressed Homeowners<\/a><\/li>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/10\/californias-keep-your-home-plan\/\" title=\"California's Keep Your Home plan\">California&#8217;s Keep Your Home  plan<\/a><\/li>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/10\/refinance-mortgage-now-2\/\" title=\"Refinance Mortgage Now!\">Refinance Mortgage Now!<\/a><\/li>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/10\/settlement-urged-for-foreclosure-probe\/\" title=\"Settlement Urged For Foreclosure Probe\">Settlement Urged For  Foreclosure Probe<\/a><\/li>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/10\/californias-weak-housing-market\/\" title=\"California's Weak Housing Market\">California&#8217;s Weak Housing  Market<\/a><\/li>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/10\/as-interest-rates-rise-mortgage-applications-fall\/\" title=\"As Interest Rates Rise, Mortgage Applications Fall\">As Interest  Rates Rise, Mortgage Applications Fall<\/a><\/li>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/10\/home-prices-keep-falling-2\/\" title=\"Home Prices Keep Falling\">Home Prices Keep Falling<\/a><\/li>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/10\/mortgage-modification\/\" title=\"Mortgage Modification\">Mortgage Modification<\/a><\/li>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/10\/more-americans-renting\/\" title=\"More Americans Renting\">More Americans Renting<\/a><\/li>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/10\/realtors-seek-revision-to-fico-score\/\" title=\"Realtors Seek Revision To FICO Score\">Realtors Seek Revision To  FICO Score<\/a><\/li>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/10\/looming-shadow-inventory-of-over-2-million-homes\/\" title=\"Looming Shadow Inventory Of Over 2 Million Homes\">Looming Shadow  Inventory Of Over 2 Million Homes<\/a><\/li>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/10\/a-housing-recovery-in-2011\/\" title=\"A Housing Recovery In 2011?\">A Housing Recovery In 2011?<\/a><\/li>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/10\/the-biweekly-mortgage\/\" title=\"The Biweekly Mortgage\">The Biweekly Mortgage<\/a><\/li>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/10\/credit-card-users-down-by-8-million\/\" title=\"Credit Card Users Down By 8 Million\">Credit Card Users Down By 8  Million<\/a><\/li>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/10\/how-do-you-rebuild-credit-after-a-foreclosure\/\" title=\"How Do You Rebuild Credit After A Foreclosure?\">How Do You  Rebuild Credit After A Foreclosure?<\/a><\/li>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/10\/las-vegas-ranked-as-fifth-worst-economy-in-the-world\/\" title=\"Las Vegas Ranked As Fifth Worst Economy In The World\">Las Vegas  Ranked As Fifth Worst Economy In The World<\/a><\/li>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/10\/record-number-of-complaints-about-banks\/\" title=\"Record Number Of Complaints About Banks\">Record Number Of  Complaints About Banks<\/a><\/li>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/10\/reforming-fannie-freddie\/\" title=\"Reforming Fannie, Freddie\">Reforming Fannie, Freddie<\/a><\/li>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/10\/a-bank-of-america-refinance-goes-bad\/\" title=\"A Bank Of America Refinance Goes Bad\">A Bank Of America  Refinance Goes Bad<\/a><\/li>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/10\/mortgage-rates-hit-six-month-high\/\" title=\"Mortgage Rates Hit Six-Month High\">Mortgage Rates Hit Six-Month  High<\/a><\/li>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/10\/property-owners-demand-lower-taxes\/\" title=\"Property Owners Demand Lower Taxes\">Property Owners Demand Lower  Taxes<\/a><\/li>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/10\/u-s-home-values-plunge-in-2010\/\" title=\"U.S. Home Values Plunge In 2010\">U.S. Home Values Plunge In 2010<\/a><\/li>\n<\/ul>\n<h3 class=\"post_list_date\">December 9, 2010<\/h3>\n<ul>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/09\/housing-crunch-arizona-style\/\" title=\"Housing Crunch Arizona Style\">Housing Crunch Arizona Style<\/a><\/li>\n<\/ul>\n<h3 class=\"post_list_date\">December 8, 2010<\/h3>\n<ul>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/08\/home-prices-fall-2\/\" title=\"Home Prices Fall\">Home Prices Fall<\/a><\/li>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/08\/interest-rates-go-up-refinancing-goes-down\/\" title=\"Interest Rates Go Up, Refinancing Goes Down\">Interest Rates Go  Up, Refinancing Goes Down<\/a><\/li>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/08\/bank-of-americas-loan-modification-program\/\" title=\"Bank of America's Loan Modification Program\">Bank of America&#8217;s  Loan Modification Program<\/a><\/li>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/08\/more-regulations-demanded-for-reverse-mortgages\/\" title=\"More Regulations Demanded For Reverse Mortgages\">More  Regulations Demanded For Reverse Mortgages<\/a><\/li>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/08\/government-forcing-banks-to-lend\/\" title=\"Government Forcing Banks To Lend\">Government Forcing Banks To  Lend<\/a><\/li>\n<li><a href=\"http:\/\/www.refinancemortgagenow.net\/blog\/\/2010\/12\/08\/15-million-homes-underwater-in-usa\/\" title=\"15 Million Homes Underwater In USA\">15 Million Homes Underwater  In USA<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>I&#8217;ve been blogging about mortgage refinance for a couple of years, strongly influenced by my free market economics background at UCLA and by this 2009 book by Stanford economist Thomas Sowell: Did You Hear About The 89-Square Foot House? Home &hellip; <a href=\"https:\/\/lukeford.net\/blog\/?p=26443\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[922],"tags":[18223,18191,24500,1492,24499,32745],"class_list":["post-26443","post","type-post","status-publish","format-standard","hentry","category-real-estate","tag-boom-and-bust","tag-economist-thomas-sowell","tag-foreclosure-auction","tag-free-market-economics","tag-henry-cisneros","tag-thomas-sowell"],"_links":{"self":[{"href":"https:\/\/lukeford.net\/blog\/index.php?rest_route=\/wp\/v2\/posts\/26443","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lukeford.net\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lukeford.net\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lukeford.net\/blog\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lukeford.net\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=26443"}],"version-history":[{"count":1,"href":"https:\/\/lukeford.net\/blog\/index.php?rest_route=\/wp\/v2\/posts\/26443\/revisions"}],"predecessor-version":[{"id":26444,"href":"https:\/\/lukeford.net\/blog\/index.php?rest_route=\/wp\/v2\/posts\/26443\/revisions\/26444"}],"wp:attachment":[{"href":"https:\/\/lukeford.net\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=26443"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lukeford.net\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=26443"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lukeford.net\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=26443"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}