Home Affordability Reality Check (Part 2 of 5) - Barry Ritholtz
Foreclosure reforms to widen – WaPo
Until the Fed allows interest rates to rise and restores the arbitrage to the Treasury yield curve, the private label market for non-conforming loans and RMBS is not going to be revived — period. With the Fed keeping rates at zero and banks desperately seeking to put on earning assets, there is simply no “spread” available in the markets to incentivize private investors to take risk on non-conforming residential mortgages.
Why People Hate the Banks – Joe Nocera
Where Housing Once Boomed, Recovery Lags – NY Times
No Normal Recovery – Tim Iacono
Bay Area News
The Lucas Valley Estates Homeowners Association is crossing sabers with Lucas over his plans to build a 263,701-square-foot, mission-style digital technology production and filmmaking complex, complete with a wine cave and tasting room, on historic farmland known as Grady Ranch.
“Most of the community, honestly, feels this is an absolute travesty that anything should be going in at that location,” said Liz Dale, president of the association’s board of directors, which represents 174 property owners and as many as 500 residents in the neighborhood adjacent to the proposed development.
“It will be bringing a lot of commercial activity into a very beloved, fragile valley, where the people really treasure the quiet rural environment,” she said.
Groupon looking like Pets.com of current tech boom – MarketWatch
Bay Area nonprofit fights to keep camp alive – Contra Costa Times
Alumni of Camp Jack Hazard, a popular youth camp in the Sierra Nevada, are on a mission to raise enough money to preserve it for future generations after the organization that ran the rustic facility for nine decades abruptly shut its doors last year.
“I think it’s crucial for people in the Bay Area to know about camp,” said Brett Dennen, 32, a former camp counselor turned successful musician. “People from the city need the mountains more than people who live in Oakdale or Modesto.”