Posted by: Dean Foust on February 12, 2008
I was invited to appear today on Talk of the Nation, the NPR call-in show hosted by Neal Conan (right). The topic was the mortgage mess, and who the winners and losers are. NPR posted a podcast or archived version of the segment, which ran 38 minutes, which you can access by clicking here.
I post this not because I like the sound of my voice, but because it is a call-in show, and the segment attracted a lot of callers from across the country who are being impacted — a woman in North Carolina who was given 10 days notice to vacate her condo because the owner had defaulted on the mortgage and the bank was kicking her out. A community activist who talked about how African-Americans were targeted by predatory lenders and are feeling the pain disproportionately. A code inspector from San Diego who talked about some of what he was seeing in neighborhoods there. Scary stuff. All worth a listen.
BusinessWeek editors Chris Palmeri, Prashant Gopal and Peter Coy chronicle the highs and lows of the housing and mortgage markets on their Hot Property blog. In print and online, the Hot Property team first wrote about the potential downside of lenders pushing riskier, "option ARM" mortgages and the rise in mortgage fraud back in 2005—well ahead of many other media outlets. In 2008, Hot Property bloggers finished #1 in a ranking of the world's top 100 "most powerful property people" by the British real estate website Global edge. Hot Property was named among the 25 most influential real estate blogs of 2007 by Inman News.