The Mortgage Mess
It all started with mortgages. The worldwide real estate boom was driven by an expansion of residential and commercial real estate lending, and so was the crash that led to the global financial crisis. Now Bloomberg's mortgages columns look at that business five days a week from the perspective of investors, lenders, consumers and economists: because it's still all about mortgages.
When Graham Dixon arrived at a property auction in Dublin’s affluent Ballsbridge neighborhood last month, he braved a crowd of hundreds only to lose out on a house that sold for almost six times the reserve price.