Saturday, 25 October 2014 / TRUTH-OUT.ORG

The Bottom Line: Housing

Wednesday, 26 December 2012 14:13 By Staff, Econ4 | Video
We are economists who think that the economy should serve people, the planet and the future.
Four million families have lost their homes to foreclosure in the Great Recession. Today another four million or more face the same fate. This devastation was triggered by unscrupulous financiers and exacerbated by government policies that put banker bonuses ahead of homeowner solvency.
 
Some blame families for foolishly pursuing the American Dream of homeownership.  They think government assistance for banks is OK, but homeowners should be left to take “free-market” medicine.
 
Some claim that the solution for the housing crisis is to extend and pretend, to perpetuate make-believe values on bank balance sheets rather than to modify principal based on real housing prices. These policies may be a dream for bankers, but they're a nightmare for homeowners.
 
We oppose treating the nation's housing as a bundle of assets to be sliced, diced, flipped, and bailed out in pursuit of inflated profits and bonuses.
 
We call for reality-based, ethically grounded housing policies that restore stability to families and sanity to markets.
 
We call for mandatory partial reductions of mortgage principal whenever this can keep a family in its home. We call for America's best run housing non-profits to be paid to provide the counsel required to determine when such modifications will work. We call for civil and, when necessary, criminal sanctions on banks and loan-servicing companies whose employees intentionally obstruct implementation of mandated loan modifications.
 
We call for amending bankruptcy laws to restore pre-2005 rules that protected families and communities from bank depredations.
 
We call for immediate return to the rule of law by requiring those who seek to foreclose to demonstrate they have the proper title and rights to do so – with stiff legal penalties if they ignore the law.
 
In response to recent moves by the top 1% to buy distressed housing and convert it to rental stock as absentee landlords, we call for local, state and national standards to protect families from predatory rental practices.
 
We extend our support to all who are working in the private, non-profit, and public sectors to promote access to affordable and stable housing as a human right of families and an asset for communities.
 
If you’re an economist and would like to add your name to this statement, please send us an email by clicking here (This email address is being protected from spambots. You need JavaScript enabled to view it.).
 
 
 
Gar Alperovitz / University of Maryland College Park
 
James K. Boyce / University of Massachusetts Amherst
 
Omar S. Dahi / Hampshire College
 
George DeMartino / University of Denver
 
Gerald Epstein / University of Massachusetts Amherst
 
Gerald Friedman / University of Massachusetts Amherst
 
Eban Goodstein / Bard College
 
Juliet Schor / Boston College
 
Douglas Smith / Econ4
 
Nurul Aman / University of Massachusetts Boston
 
Hannah Appel / University of California Berkeley
 
Michael Ash / University of Massachusetts Amherst
 
Lee Badgett / University of Massachusetts Amherst
 
Ron Baiman / Center for Tax and Budget Accountability
 
Scott Baker / Common Ground – NYC
 
Erdogan Bakir / Bucknell University
 
Benjamin Balak / Rollins College
 
Radhika Balakrishnan / Rutgers University
 
Fabian Balardini / Borough of Manhattan Community College (CUNY)
 
Ahmet Baytas / Montclair State University
 
Marc Bilodeau / Indiana University – Purdue University Indianapolis
 
Cyrus Bina / University of Minnesota
 
Peter C. Bloch / University of Wisconsin-Madison
 
Elissa Braunstein / Colorado State University
 
Antonio Callari / Franklin and Marshall College
 
Martha Campbell / SUNY Potsdam
 
Jessica Carrick-Hagenbarth / University of Massachusetts Amherst
 
Kimberly Christensen / Sarah Lawrence College
 
Jennifer Cohen / Whitman College
 
J. Kevin Crocker / University of Massachusetts Amherst
 
James Crotty / University of Massachusetts Amherst
 
Anita Dancs / Western New England University
 
Susan M. Davis / Buffalo State College
 
Carmen Diana Deere / University of Florida
 
Geert Dhondt / John Jay College, City University of New York
 
P.K. Dollar / Gem Communications
 
Laura Dresser / Center on Wisconsin Strategy
 
Amitava Krishna Dutt / University of Notre Dame
 
Justin A. Elardo / Portland Community College
 
Bilge Erten / United Nations, DESA
 
Joshua Farley / University of Vermont
 
Susan Feiner / University of Southern Maine
 
Kade Finnoff / University of Massachusetts Boston
 
Heidi Garrett-Peltier / University of Massachusetts Amherst
 
Barbara Garson / Author “Down the Up Escalator: How the 99% live in the Great Recession”
 
Armagan Gezici / Keene State College
 
David Gold / The New School
 
Jonathan P. Goldstein / Bowdoin College
 
Doug Henwood / Left Business Observer, “Behind the News”
 
Wolfgang Hoeschele / Truman State University
 
Sue Holmberg / The Roosevelt Institute
 
Julio Huato / St. Francis College
 
Mary C. King / Portland State University
 
Mark Klinedinst / University of Southern Mississippi
 
Tim Koechlin / Vassar College
 
Kazim Konyar / California State University, San Bernardino
 
Philip Kozel / Rollins College
 
David Laibman / City University of New York
 
June Lapidus / Roosevelt University
 
Joelle J. Leclaire / Buffalo State College, SUNY
 
Frederic Lee / University of Missouri Kansas City
 
Fernando Leiva / University at Albany (SUNY)
 
Charles Levenstein / University of Massachusetts Lowell
 
Margaret Levenstein / University of Michigan Ann Arbor
 
Patricia J. Lindsey / Retired
 
Sean MacDonald / New York City College of Technology, City University of New York
 
Arthur MacEwan / University of Massachusetts Boston
 
Stephanie Martin / Allegheny College
 
Peter Hans Matthews / Middlebury College
 
Elaine McCrate / University of Vermont
 
Michael Meeropol / John Jay College of Criminal Justice (CUNY)
 
Philip Mellizo / The College of Wooster
 
John D. Messier / University of Maine Farmington
 
Peter B. Meyer / University of Louisville, The E.P. Systems Group, Inc.
 
John Miller / Wheaton College
 
Fred Moseley / Mount Holyoke College
 
Tracy Mott / University of Denver
 
Ellen Mutari / The Richard Stockton College of New Jersey
 
Julie Nelson / University of Massachusetts Boston
 
Reynold F. Nesiba / Augustana College–Sioux Falls
 
Eric Nilsson / California State University San Bernardino
 
Jennifer Olmsted / Drew University
 
Shaianne Osterreich / Ithaca College
 
Aaron Pacitti / Siena College
 
Karl Petrick / Western New England University
 
Robert Pollin / University of Massachusetts Amherst
 
Thomas Michael Power / University of Montana
 
Paddy Quick / St. Francis College
 
Stephen Resnick / University of Massachusetts Amherst
 
Meenakshi Rishi / Seattle University
 
Leopoldo Rodriguez / Portland State University
 
Frank Roosevelt / Sarah Lawrence College
 
Nancy E. Rose / California State University San Bernardino
 
Luis D. Rosero / Fitchburg State University
 
Blair Sandler / San Francisco
 
Helen Scharber / Hampshire College
 
Ted P. Schmidt / SUNY Buffalo State
 
Markus P. A. Schneider / University of Denver
 
Eric A. Schutz / Rollins College
 
Barry Shelley / Brandeis University
 
Thomas Simmons / Greenfield Community College
 
Bryan Snyder / Bentley University
 
Peter Spiegler / University of Massachusetts Boston
 
Howard Stein / University of Michigan Ann Arbor
 
Masao Suzuki / Skyline College
 
Frank Thompson / University of Michigan Ann Arbor
 
Renee Toback / URPE
 
Zdravka Todorova / Wright State University
 
Mariano Torras / Adelphi University
 
Mayo Toruño / California State University San Bernardino
 
A. Dale Tussing / Syracuse University
 
Valerie Voorheis / University of Massachusetts Amherst and Marlboro College Graduate Center
 
Mwangi wa Gĩthĩnji / University of Massachusetts Amherst
 
James Wagner / John Burrough Schools, Webster University
 
Scott A. Weir / Wake Technical Community College
 
Thomas E. Weisskopf / University of Michigan
 
Maggie Winslow / University of San Francisco
 
Yavuz Yaşar / University of Denver
 
Lyuba Zarsky / Monterey Institute of International Studies
 
Barbara Zoloth / Retired
 
 
This piece was reprinted by Truthout with permission or license. It may not be reproduced in any form without permission or license from the source.

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The Bottom Line: Housing

Wednesday, 26 December 2012 14:13 By Staff, Econ4 | Video
We are economists who think that the economy should serve people, the planet and the future.
Four million families have lost their homes to foreclosure in the Great Recession. Today another four million or more face the same fate. This devastation was triggered by unscrupulous financiers and exacerbated by government policies that put banker bonuses ahead of homeowner solvency.
 
Some blame families for foolishly pursuing the American Dream of homeownership.  They think government assistance for banks is OK, but homeowners should be left to take “free-market” medicine.
 
Some claim that the solution for the housing crisis is to extend and pretend, to perpetuate make-believe values on bank balance sheets rather than to modify principal based on real housing prices. These policies may be a dream for bankers, but they're a nightmare for homeowners.
 
We oppose treating the nation's housing as a bundle of assets to be sliced, diced, flipped, and bailed out in pursuit of inflated profits and bonuses.
 
We call for reality-based, ethically grounded housing policies that restore stability to families and sanity to markets.
 
We call for mandatory partial reductions of mortgage principal whenever this can keep a family in its home. We call for America's best run housing non-profits to be paid to provide the counsel required to determine when such modifications will work. We call for civil and, when necessary, criminal sanctions on banks and loan-servicing companies whose employees intentionally obstruct implementation of mandated loan modifications.
 
We call for amending bankruptcy laws to restore pre-2005 rules that protected families and communities from bank depredations.
 
We call for immediate return to the rule of law by requiring those who seek to foreclose to demonstrate they have the proper title and rights to do so – with stiff legal penalties if they ignore the law.
 
In response to recent moves by the top 1% to buy distressed housing and convert it to rental stock as absentee landlords, we call for local, state and national standards to protect families from predatory rental practices.
 
We extend our support to all who are working in the private, non-profit, and public sectors to promote access to affordable and stable housing as a human right of families and an asset for communities.
 
If you’re an economist and would like to add your name to this statement, please send us an email by clicking here (This email address is being protected from spambots. You need JavaScript enabled to view it.).
 
 
 
Gar Alperovitz / University of Maryland College Park
 
James K. Boyce / University of Massachusetts Amherst
 
Omar S. Dahi / Hampshire College
 
George DeMartino / University of Denver
 
Gerald Epstein / University of Massachusetts Amherst
 
Gerald Friedman / University of Massachusetts Amherst
 
Eban Goodstein / Bard College
 
Juliet Schor / Boston College
 
Douglas Smith / Econ4
 
Nurul Aman / University of Massachusetts Boston
 
Hannah Appel / University of California Berkeley
 
Michael Ash / University of Massachusetts Amherst
 
Lee Badgett / University of Massachusetts Amherst
 
Ron Baiman / Center for Tax and Budget Accountability
 
Scott Baker / Common Ground – NYC
 
Erdogan Bakir / Bucknell University
 
Benjamin Balak / Rollins College
 
Radhika Balakrishnan / Rutgers University
 
Fabian Balardini / Borough of Manhattan Community College (CUNY)
 
Ahmet Baytas / Montclair State University
 
Marc Bilodeau / Indiana University – Purdue University Indianapolis
 
Cyrus Bina / University of Minnesota
 
Peter C. Bloch / University of Wisconsin-Madison
 
Elissa Braunstein / Colorado State University
 
Antonio Callari / Franklin and Marshall College
 
Martha Campbell / SUNY Potsdam
 
Jessica Carrick-Hagenbarth / University of Massachusetts Amherst
 
Kimberly Christensen / Sarah Lawrence College
 
Jennifer Cohen / Whitman College
 
J. Kevin Crocker / University of Massachusetts Amherst
 
James Crotty / University of Massachusetts Amherst
 
Anita Dancs / Western New England University
 
Susan M. Davis / Buffalo State College
 
Carmen Diana Deere / University of Florida
 
Geert Dhondt / John Jay College, City University of New York
 
P.K. Dollar / Gem Communications
 
Laura Dresser / Center on Wisconsin Strategy
 
Amitava Krishna Dutt / University of Notre Dame
 
Justin A. Elardo / Portland Community College
 
Bilge Erten / United Nations, DESA
 
Joshua Farley / University of Vermont
 
Susan Feiner / University of Southern Maine
 
Kade Finnoff / University of Massachusetts Boston
 
Heidi Garrett-Peltier / University of Massachusetts Amherst
 
Barbara Garson / Author “Down the Up Escalator: How the 99% live in the Great Recession”
 
Armagan Gezici / Keene State College
 
David Gold / The New School
 
Jonathan P. Goldstein / Bowdoin College
 
Doug Henwood / Left Business Observer, “Behind the News”
 
Wolfgang Hoeschele / Truman State University
 
Sue Holmberg / The Roosevelt Institute
 
Julio Huato / St. Francis College
 
Mary C. King / Portland State University
 
Mark Klinedinst / University of Southern Mississippi
 
Tim Koechlin / Vassar College
 
Kazim Konyar / California State University, San Bernardino
 
Philip Kozel / Rollins College
 
David Laibman / City University of New York
 
June Lapidus / Roosevelt University
 
Joelle J. Leclaire / Buffalo State College, SUNY
 
Frederic Lee / University of Missouri Kansas City
 
Fernando Leiva / University at Albany (SUNY)
 
Charles Levenstein / University of Massachusetts Lowell
 
Margaret Levenstein / University of Michigan Ann Arbor
 
Patricia J. Lindsey / Retired
 
Sean MacDonald / New York City College of Technology, City University of New York
 
Arthur MacEwan / University of Massachusetts Boston
 
Stephanie Martin / Allegheny College
 
Peter Hans Matthews / Middlebury College
 
Elaine McCrate / University of Vermont
 
Michael Meeropol / John Jay College of Criminal Justice (CUNY)
 
Philip Mellizo / The College of Wooster
 
John D. Messier / University of Maine Farmington
 
Peter B. Meyer / University of Louisville, The E.P. Systems Group, Inc.
 
John Miller / Wheaton College
 
Fred Moseley / Mount Holyoke College
 
Tracy Mott / University of Denver
 
Ellen Mutari / The Richard Stockton College of New Jersey
 
Julie Nelson / University of Massachusetts Boston
 
Reynold F. Nesiba / Augustana College–Sioux Falls
 
Eric Nilsson / California State University San Bernardino
 
Jennifer Olmsted / Drew University
 
Shaianne Osterreich / Ithaca College
 
Aaron Pacitti / Siena College
 
Karl Petrick / Western New England University
 
Robert Pollin / University of Massachusetts Amherst
 
Thomas Michael Power / University of Montana
 
Paddy Quick / St. Francis College
 
Stephen Resnick / University of Massachusetts Amherst
 
Meenakshi Rishi / Seattle University
 
Leopoldo Rodriguez / Portland State University
 
Frank Roosevelt / Sarah Lawrence College
 
Nancy E. Rose / California State University San Bernardino
 
Luis D. Rosero / Fitchburg State University
 
Blair Sandler / San Francisco
 
Helen Scharber / Hampshire College
 
Ted P. Schmidt / SUNY Buffalo State
 
Markus P. A. Schneider / University of Denver
 
Eric A. Schutz / Rollins College
 
Barry Shelley / Brandeis University
 
Thomas Simmons / Greenfield Community College
 
Bryan Snyder / Bentley University
 
Peter Spiegler / University of Massachusetts Boston
 
Howard Stein / University of Michigan Ann Arbor
 
Masao Suzuki / Skyline College
 
Frank Thompson / University of Michigan Ann Arbor
 
Renee Toback / URPE
 
Zdravka Todorova / Wright State University
 
Mariano Torras / Adelphi University
 
Mayo Toruño / California State University San Bernardino
 
A. Dale Tussing / Syracuse University
 
Valerie Voorheis / University of Massachusetts Amherst and Marlboro College Graduate Center
 
Mwangi wa Gĩthĩnji / University of Massachusetts Amherst
 
James Wagner / John Burrough Schools, Webster University
 
Scott A. Weir / Wake Technical Community College
 
Thomas E. Weisskopf / University of Michigan
 
Maggie Winslow / University of San Francisco
 
Yavuz Yaşar / University of Denver
 
Lyuba Zarsky / Monterey Institute of International Studies
 
Barbara Zoloth / Retired
 
 
This piece was reprinted by Truthout with permission or license. It may not be reproduced in any form without permission or license from the source.

Hide Comments

blog comments powered by Disqus