Chapter 13 Updates...

As I am sure you have already recognized, Chapter 13 in our text is out of date. The problem with updating Chapter 13, however, is that we are currently experiencing historic changes (both in magnitude and speed) in our real estate financing system and updating Chapter 13 is very difficult at this point. Basically, we need to update Chapter 13 by watching the news, C-Span, and reading about current events. Also, we should study the 'old' system of real estate finance to understand this systems advantages, but also the moral hazards that it had created.

Last semester, one of our graduate students wrote an interesting blog post on the sub-prime mortgage crises that triggered much of this financial turmoil, domestically and globally. I would like to start our updating of Chapter 13 by asking you to read this post (link below). Thank you!

http://realestateprogram.blogspot.com/2008/11/mortgage-company-executives-in-august.html