real estate boom

The more I read on the current financial crisis and the more I think about the ramifications, the more I realize that September 2008 will probably have as much of a lasting effect on our nation as has September 2001.

That’s because what we’ve witnessed is not just a political failure and not just a financial failure. This is a cultural failure.

Oil hit another record high on Friday. So it's no surprise that natural resources mutual funds, funds that invest in energy companies and other plays on surging commodities, are the best performing domestic stock funds this year.

These days, the national mortgage crisis is big news. As home prices drop, delinquencies rise, and foreclosures continue to grow, the national picture remains bleak.

Earlier this week, presumptive GOP presidential nominee John McCain made remarks on the mortgage crisis.

McCain pointed out that "zero down" loans were big contributors to the subprime mortgage crisis. A boom in those kinds of loans got many Americans into homes -- and now those loans are causing many Americans trouble.

If you spend hours watching HGTV or checking the value of your neighbors' home online, you may be suffering from "house lust." Although the real estate boom has gone bust, author Dan McGinn says the obsession with homes hasn't faded.

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