Housing

Former Treasury Secy. John Snow says he doubts that a so-called superfund set up by big banks to cushion the mortgage meltdown is going to work. Kai Ryssdal talked with Reuters columnist James Saft to find out why not.

Despite Countrywide's $1.2 billion loss in the 3rd quarter, its CEO says the black ink is about to start flowing again. That word sent its shares soaring. Steve Tripoli reports on whether people bidding up those shares are drinking more than their share of the Kool-Aid.

Congressional Democrats have issued an economic report on the mortgage meltdown and called for the Bush administration to prevent 2 million foreclosures in the next two years. But not all economists agree with the fine print. Jill Barshay reports.

Congress is projecting losses of over $100 billion in housing wealth from the subprime mortgage crisis, and not all of that comes from foreclosures. Jeremy Hobson reports a good chunk of loss comes from falling property values.

The latest official estimate on losses to the Southern California wildfires stands at $1 billion. And that's just in property damage. Still, the odd result in the long run may be an economic shot-in-the-arm. Bob Moon reports.

The insurance bill from the Southern California wildfires could total into the billions of dollars. Will that change how we live? Kai Ryssdal asked Martin Grace, a professor of risk management, what he thinks.

Countrywide Financial Corp. is promising to reach out to 82,000 of its borrowers and refinance or modify around $16 billion in home loans. Consumer advocates say it's about time. Bob Moon reports.

A lot of recent homebuyers are losing equity in their homes as the housing market fades. Commentator and economist Austan Goolsbee says if you're one of them, it's time to face reality.

While Congress readies itself for a housing market bill next week, states like Massachusetts and Minnesota are passing their own measures against abusive lending practices. Amy Scott has more.

Democratic Senator Charles Schumer is calling for a formal investigation by the Securities and Exchange Commission into questionable stock trades by Countrywide CEO Angelo Mozilo. Alisa Roth reports.