Andrew Laperriere is a financial and economic policy analyst who contributed to The Weekly Standard in 2006 and 2007. His articles focused on the U.S. housing market, presciently warning about the housing bubble and its potential consequences before the 2008 financial crisis.
Last week the stock market experienced one of its largest drops since the 9/11 terrorist attacks. While there were a number of causes, one major factor is investor concern that problems in the subprime mortgage market--which caters to consumers with poor credit ratings--are going to spread. This…
"If something can't go on forever, it won't." --Herb Stein WITH NEW HOME SALES DOWN 10.5 percent in February, and with home prices declining for the fourth month in a row, it's high time for a sober look at the consequences of a major housing correction. The Federal Reserve, Wall Street economists,…