Economic theories don’t lend themselves to laboratory testing, so the work of a national appraisal firm is especially enlightening. A new study lends support to the Austrian business cycle theory, which says that the less government is involved, the faster a market will recover.
Walking away is not just for homeowners anymore. Now banks have joined in and are walking away, leaving thousands of homes vacant because they don’t want to be responsible for maintaining them. While housing bulls urge investors to buy up houses, banks that could control property ownership merely by foreclosing and paying the back taxes, …