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Aecetia
ParticipantRaybyrnes is correct about the research;
“The Impact of Legalized Abortion on CrimeJOHN J. DONOHUE III
Yale Law School; National Bureau of Economic Research (NBER)
STEVEN D. LEVITT
University of Chicago; National Bureau of Economic Research (NBER); American Bar Foundation
——————————————————————————–Quarterly Journal of Economics
Abstract:
We offer evidence that legalized abortion has contributed significantly to recent crime reductions. Crime began to fall roughly 18 years after abortion legalization. The 5 states that allowed abortion in 1970 experienced declines earlier than the rest of the nation, which legalized in 1973 with Roe v. Wade. States with high abortion rates in the 1970s and 1980s experienced greater crime reductions in the 1990s. In high abortion states, only arrests of those born after abortion legalization fall relative to low abortion states. Legalized abortion appears to account for as much as 50 percent of the recent drop in crime.”ParticipantRaybyrnes is correct about the research;
“The Impact of Legalized Abortion on CrimeJOHN J. DONOHUE III
Yale Law School; National Bureau of Economic Research (NBER)
STEVEN D. LEVITT
University of Chicago; National Bureau of Economic Research (NBER); American Bar Foundation
——————————————————————————–Quarterly Journal of Economics
Abstract:
We offer evidence that legalized abortion has contributed significantly to recent crime reductions. Crime began to fall roughly 18 years after abortion legalization. The 5 states that allowed abortion in 1970 experienced declines earlier than the rest of the nation, which legalized in 1973 with Roe v. Wade. States with high abortion rates in the 1970s and 1980s experienced greater crime reductions in the 1990s. In high abortion states, only arrests of those born after abortion legalization fall relative to low abortion states. Legalized abortion appears to account for as much as 50 percent of the recent drop in crime.”ParticipantFrom the New York Times today:
March 6, 2008
Mortgage Defaults Reach a New High
By VIKAS BAJAJ
WASHINGTON — Defaults on home mortgages touched another all-time high at the end of the last year as foreclosures surged on adjustable-rate mortgages, an industry group reported on Thursday.The latest data is expected to put further pressure on policy makers and the mortgage industry to move faster to contain losses and help more homeowners. In recent days, regulators and lawmakers have begun suggesting that the federal government might need to take a more interventionist role in the mortgage business.
The Mortgage Bankers Association reported Thursday that the number of loans past due or in foreclosure jumped to 7.9 percent, from 7.3 percent at the end of September and 6.1 percent in December 2006. Before the third quarter, the rate had never risen past 7 percent since the survey began in 1979.
The report helped drive down the stock and credit markets on Thursday. The Standard & Poor’s 500 stock index fell 1.2 percent and the Dow Jones industrial average fell about 130 points, or 1.1 percent.
Much of the increase in delinquencies and foreclosures came from a handful of states, particularly California and Florida. Those two states account for about 21 percent of all mortgages but had 30 percent of the new foreclosures started in the quarter. Nevada, Arizona, Michigan and Ohio also had high default rates.
ParticipantFrom the New York Times today:
March 6, 2008
Mortgage Defaults Reach a New High
By VIKAS BAJAJ
WASHINGTON — Defaults on home mortgages touched another all-time high at the end of the last year as foreclosures surged on adjustable-rate mortgages, an industry group reported on Thursday.The latest data is expected to put further pressure on policy makers and the mortgage industry to move faster to contain losses and help more homeowners. In recent days, regulators and lawmakers have begun suggesting that the federal government might need to take a more interventionist role in the mortgage business.
The Mortgage Bankers Association reported Thursday that the number of loans past due or in foreclosure jumped to 7.9 percent, from 7.3 percent at the end of September and 6.1 percent in December 2006. Before the third quarter, the rate had never risen past 7 percent since the survey began in 1979.
The report helped drive down the stock and credit markets on Thursday. The Standard & Poor’s 500 stock index fell 1.2 percent and the Dow Jones industrial average fell about 130 points, or 1.1 percent.
Much of the increase in delinquencies and foreclosures came from a handful of states, particularly California and Florida. Those two states account for about 21 percent of all mortgages but had 30 percent of the new foreclosures started in the quarter. Nevada, Arizona, Michigan and Ohio also had high default rates.
ParticipantFrom the New York Times today:
March 6, 2008
Mortgage Defaults Reach a New High
By VIKAS BAJAJ
WASHINGTON — Defaults on home mortgages touched another all-time high at the end of the last year as foreclosures surged on adjustable-rate mortgages, an industry group reported on Thursday.The latest data is expected to put further pressure on policy makers and the mortgage industry to move faster to contain losses and help more homeowners. In recent days, regulators and lawmakers have begun suggesting that the federal government might need to take a more interventionist role in the mortgage business.
The Mortgage Bankers Association reported Thursday that the number of loans past due or in foreclosure jumped to 7.9 percent, from 7.3 percent at the end of September and 6.1 percent in December 2006. Before the third quarter, the rate had never risen past 7 percent since the survey began in 1979.
The report helped drive down the stock and credit markets on Thursday. The Standard & Poor’s 500 stock index fell 1.2 percent and the Dow Jones industrial average fell about 130 points, or 1.1 percent.
Much of the increase in delinquencies and foreclosures came from a handful of states, particularly California and Florida. Those two states account for about 21 percent of all mortgages but had 30 percent of the new foreclosures started in the quarter. Nevada, Arizona, Michigan and Ohio also had high default rates.
ParticipantFrom the New York Times today:
March 6, 2008
Mortgage Defaults Reach a New High
By VIKAS BAJAJ
WASHINGTON — Defaults on home mortgages touched another all-time high at the end of the last year as foreclosures surged on adjustable-rate mortgages, an industry group reported on Thursday.The latest data is expected to put further pressure on policy makers and the mortgage industry to move faster to contain losses and help more homeowners. In recent days, regulators and lawmakers have begun suggesting that the federal government might need to take a more interventionist role in the mortgage business.
The Mortgage Bankers Association reported Thursday that the number of loans past due or in foreclosure jumped to 7.9 percent, from 7.3 percent at the end of September and 6.1 percent in December 2006. Before the third quarter, the rate had never risen past 7 percent since the survey began in 1979.
The report helped drive down the stock and credit markets on Thursday. The Standard & Poor’s 500 stock index fell 1.2 percent and the Dow Jones industrial average fell about 130 points, or 1.1 percent.
Much of the increase in delinquencies and foreclosures came from a handful of states, particularly California and Florida. Those two states account for about 21 percent of all mortgages but had 30 percent of the new foreclosures started in the quarter. Nevada, Arizona, Michigan and Ohio also had high default rates.
ParticipantFrom the New York Times today:
March 6, 2008
Mortgage Defaults Reach a New High
By VIKAS BAJAJ
WASHINGTON — Defaults on home mortgages touched another all-time high at the end of the last year as foreclosures surged on adjustable-rate mortgages, an industry group reported on Thursday.The latest data is expected to put further pressure on policy makers and the mortgage industry to move faster to contain losses and help more homeowners. In recent days, regulators and lawmakers have begun suggesting that the federal government might need to take a more interventionist role in the mortgage business.
The Mortgage Bankers Association reported Thursday that the number of loans past due or in foreclosure jumped to 7.9 percent, from 7.3 percent at the end of September and 6.1 percent in December 2006. Before the third quarter, the rate had never risen past 7 percent since the survey began in 1979.
The report helped drive down the stock and credit markets on Thursday. The Standard & Poor’s 500 stock index fell 1.2 percent and the Dow Jones industrial average fell about 130 points, or 1.1 percent.
Much of the increase in delinquencies and foreclosures came from a handful of states, particularly California and Florida. Those two states account for about 21 percent of all mortgages but had 30 percent of the new foreclosures started in the quarter. Nevada, Arizona, Michigan and Ohio also had high default rates.
ParticipantHere is an FDIC Advisory Opinion on the safety issue-
http://www.fdic.gov/regulations/laws/rules/4000-10110.htmlParticipantHere is an FDIC Advisory Opinion on the safety issue-
http://www.fdic.gov/regulations/laws/rules/4000-10110.htmlParticipantHere is an FDIC Advisory Opinion on the safety issue-
http://www.fdic.gov/regulations/laws/rules/4000-10110.htmlParticipantHere is an FDIC Advisory Opinion on the safety issue-
http://www.fdic.gov/regulations/laws/rules/4000-10110.htmlParticipantHere is an FDIC Advisory Opinion on the safety issue-
http://www.fdic.gov/regulations/laws/rules/4000-10110.htmlParticipantThe point about artificially propping up the market is an excellent one! This is Darwinian economics at work.
“The understandable impulse to minimize foreclosures should not be a pretext to prop up the housing market by rescuing too many strapped homeowners. Though cruel, foreclosures and falling home values have the virtue of bringing prices to a level where housing can escape its present stagnation. Helping today’s homeowners makes little sense if it penalizes tomorrow’s homeowners. An unstoppable free fall of prices seems unlikely. Slumping home construction and sales have left much pent-up demand. What will release that demand are affordable prices.”
ParticipantThe point about artificially propping up the market is an excellent one! This is Darwinian economics at work.
“The understandable impulse to minimize foreclosures should not be a pretext to prop up the housing market by rescuing too many strapped homeowners. Though cruel, foreclosures and falling home values have the virtue of bringing prices to a level where housing can escape its present stagnation. Helping today’s homeowners makes little sense if it penalizes tomorrow’s homeowners. An unstoppable free fall of prices seems unlikely. Slumping home construction and sales have left much pent-up demand. What will release that demand are affordable prices.”
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