UM: Economy

By

Bloomberg News reports U.S. foreclosures topped 250,000 for the 10th straight month in January, and looks at strategies to address the problem. The article quotes Robert Van Order, a UM adjunct professor of finance and former chief economist at Freddie Mac: ”Workout programs can help some people who intend to stay in the house, but the big problem is people who don’t want to carry an underwater house. Negative equity is not going away soon.” [Source]