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The Latest Breaking News from Great Recession

Privatizing Fannie Mae and Freddie Mac the wrong way risks a second Great Recession

I served in the Obama and Biden administrations and saw excessive risk-taking by these enterprises help bring about the 2008 crash and Great Recession.

Fortune

A study says the global luxury goods market will shrink in 2025. Trump tariffs could make it worse

Global sales of personal luxury goods are forecast to shrink next year for the first time since the Great Recession in 2008 and the COVID-19 pandemic

The Independent UK

Walz, favorite of labor unions, opposed UAW-backed auto bailout - Roll Call

Before Tim Walz was Democrats' vice-presidential nominee, he broke with his party and opposed the Great Recession's auto industry bailout.

Roll Call

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UBS to pay $1.44 billion to settle 2007 financial crisis-era mortgage fraud case, last of such cases

UBS will pay U.S. authorities $1.44 billion to settle the last lingering legal case over Wall Street’s role in the housing bubble of the early 2000s, which ultimately led to the 2008 financial crisis and Great Recession

The Independent UK

Americans are feeling the worst about their money since the Great Recession

But they're still optimistic about their financial futures.

Fortune

US birth rates are at record lows – even though the number of kids most Americans say they want has held steady

Birth rates are falling in the U.S. After the highs of the Baby Boom in the mid-20th century and the lows of the Baby Bust in the 1970s, birth rates were relatively stable for nearly 50 years. But during the Great Recession, from 2007-2009, birth rates declined sharply – and…

The Conversation

The 'Great Resignation' isn’t going anywhere—at least among baby boomers

During the Great Recession, workforce participation among the 55-and-older cohort grew 1%. The past three years have seen a 1.9% decline among boomers.

Fortune

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Dallas-Fort Worth sees sharpest drop in homebuilding permits since Great Recession

Facing slower traffic in sales offices with buyers facing higher mortgage rates, North Texas homebuilders are hitting the brakes at a pace not seen since the Great Recession.

Tribune News Service

Recession odds are up to 65% — here’s how a downturn could affect you

Recessions are more than just a slowing economy, volatile stock market and a bad spell of data. Behind the numbers and jargon are real people — and real livelihoods at stake.

Tribune News Service

Is the housing market about to crash? Here’s what experts are saying

After a record-breaking run that saw mortgage rates plunge to all-time lows and home prices soar to new highs, the U.S. housing market finally is slowing. While demand and price gains are cooling, any correction is likely to be a modest one, housing economists and analysts say. No one expects…

Tribune News Service

Average long-term US mortgage rates dip to 6.66% this week

Average long-term U.S. mortgage rates ticked down modestly this week after six straight weeks of gains pushed rates to heights not seen in more than a decade, before a crash in the housing market triggered the Great Recession in 2008

The Independent UK

Housing Activity 'Took A Nosedive' As Mortgage Rates Hit 15-Year Highs - A Chart That Says It All

Mortgage rates are at their highest point since the Great Recession as housing affordability continues to decline, according to Freddie Mac (OTCMKTS: FMCC) data.

Benzinga

Editorial: The end of the end of the 20th century

Some would say the 20th century ended at Y2K — midnight on Jan. 1, 2000. Others would say that, as a historical phenomenon, it extended until the shock of Sept. 11, 2001. And others still might cite the Great Recession or even the election of Donald Trump as the real…

Tribune News Service

California pension fund reports $29 billion loss, first since Great Recession, amid market turmoil

The California Public Employees' Retirement System reported a loss of more than 6% last fiscal year, its first negative investment return since the Great Recession, the state pension fund said Wednesday.

Los Angeles Times

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Benzinga

If You Invested $1,000 In SPY At The End Of The Last Recession, Here's How Much You Have Now

The U.S. stock market officially entered a market correction recently with the S&P 500 down 20% from all-time highs. Many have pointed to the potential of a recession and searches for the term are hitting record highs on Google.

Tribune News Service

What Fed Chairman Powell sees for the housing market

The fate of the housing boom is on the minds of both homeowners and homebuyers these days. Will record home values lead to a crash reminiscent of the one that made the Great Recession so painful? Or will prices simply take a breather from their torrid pace of appreciation?

Los Angeles Times

In tightknit El Monte, the killing of two cops reinforces a deep sense of community

During the Great Recession a decade ago, El Monte was in danger of losing much of the ground it had gained.

Los Angeles Times

Michael Hiltzik: How a smart approach to stimulus saved the US economy from the pandemic

When a financial and economic crisis strikes, policymakers have only two options.

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Benzinga

This Day In Market History: S&P 500's Lowest Closing Price Of The Great Recession

Each day, Benzinga takes a look back at a notable market-related moment that occurred on this date. What Happened? On this day in 2009, the Dow Jones Industrial Average and the S&P 500 closed at their lowest levels of the Great Recession. Where The Market Was: The S&P 500 closed…

Tribune News Service

The unlikeliest of settings for a Broadway play: A Detroit auto factory

DETROIT — Gathering research several years ago for a play she was writing set in a factory during the Great Recession, Dominique Morisseau still remembers talking to a friend who drove a Hi-Lo at a local factory.

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