Welcome!

Microservices Expo Authors: Liz McMillan, Pat Romanski, Elizabeth White, Yeshim Deniz, Zakia Bouachraoui

Blog Feed Post

Housing Crisis and Lower Income Home Owners

Finally the other shoe drops. On the front page of Monday’s USA Today, research done by Harvard University’s Joint Center for Housing Studies discovered “Homes that cost less hit the hardest.”

The article details the fact the lowest price homes in markets all across the US have experienced price drops greater than homes which cost more. This is no surprise and it is the natural consequence of artificial incentives instilled into the housing market by the Community Reinvestment Act originally signed by Jimmy Carter, and subsequently updated in the Gramm Leach Bliley Act signed by Bill Clinton. The latter reduced regulation of banks, opened the door for more and bigger bank mergers, and repealed the Glass Steagall (which allowed banks to offer commercial banking and investment banking services simultaneously – a substantive cause of the recession and subprime crisis).

The article lays out the facts of the recent and current housing situation for lower income earners, but does not connect the dots. First, prices of lower priced homes increased faster and to a greater degree than higher priced counterparts. In other words, lower income buyers paid more for their homes when they purchased them. The fact that prices rose and fell so dramatically, indicates greater amounts of debt were used to purchase the lower priced homes than more expensive ones. Further deduction suggests that more low priced home owners are now “under water” as prices have fallen below the mortgage amount contracted for. What follows, and the article points this out, is that greater numbers of foreclosures have take place for (former) owners of lower priced homes.

Summarizing, “policy” allegedly designed to help lower income Americans actually hurt them at each and every stage of their home ownership journey. They paid too much, borrowed too much, at rates too high, then had the rug yanked out from under them when home prices fell, causing a poor economy, followed by extensive job losses and ultimately foreclosures. Those who have hustled to make their payments, have homes worth drastically less than when they paid, and now these folks are being harassed by banks who are under government thumb after receiving bailouts. If I were in this situation…(and you would be too).

Here’s the point, which the article omits: The only way to get ahead and stay ahead is to work and save some capital. Then use the capital, while continuing to work personally, to invest and earn additional capital. Gifts, handouts, artificial incentives, and the like, while politically expedient, just create more hardship for the intended beneficiaries of the largess. These needlessly expose them to poor decisions for their part and cruelly subject them to being taken advantage of by unscrupulous charlatans. The only sound way to improve one’s life is through one’s own effort – anything else really screws things up. BTW, I have lived this lesson first hand, as Debra and I were homeless six months into our marriage in 1988 – but that’s another story.

Community Reinvestment Act information.

Read the original blog entry...

More Stories By Dana Barfield

Dana is the president of The Barfield Group, which has provided industry leading Financial Advice, Investment Services, and helped people Plan for Retirement for more than 20 years. He is a frequent speaker and writer for a variety of industry, regional, and national publications on business ownership and wealth building related topics.

Microservices Articles
Modern software design has fundamentally changed how we manage applications, causing many to turn to containers as the new virtual machine for resource management. As container adoption grows beyond stateless applications to stateful workloads, the need for persistent storage is foundational - something customers routinely cite as a top pain point. In his session at @DevOpsSummit at 21st Cloud Expo, Bill Borsari, Head of Systems Engineering at Datera, explored how organizations can reap the bene...
In his session at 20th Cloud Expo, Mike Johnston, an infrastructure engineer at Supergiant.io, discussed how to use Kubernetes to set up a SaaS infrastructure for your business. Mike Johnston is an infrastructure engineer at Supergiant.io with over 12 years of experience designing, deploying, and maintaining server and workstation infrastructure at all scales. He has experience with brick and mortar data centers as well as cloud providers like Digital Ocean, Amazon Web Services, and Rackspace. H...
DevOpsSummit New York 2018, colocated with CloudEXPO | DXWorldEXPO New York 2018 will be held November 11-13, 2018, in New York City. Digital Transformation (DX) is a major focus with the introduction of DXWorldEXPO within the program. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term.
Most DevOps journeys involve several phases of maturity. Research shows that the inflection point where organizations begin to see maximum value is when they implement tight integration deploying their code to their infrastructure. Success at this level is the last barrier to at-will deployment. Storage, for instance, is more capable than where we read and write data. In his session at @DevOpsSummit at 20th Cloud Expo, Josh Atwell, a Developer Advocate for NetApp, will discuss the role and value...
SYS-CON Events announced today that DatacenterDynamics has been named “Media Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY. DatacenterDynamics is a brand of DCD Group, a global B2B media and publishing company that develops products to help senior professionals in the world's most ICT dependent organizations make risk-based infrastructure and capacity decisions.
CloudEXPO New York 2018, colocated with DXWorldEXPO New York 2018 will be held November 11-13, 2018, in New York City and will bring together Cloud Computing, FinTech and Blockchain, Digital Transformation, Big Data, Internet of Things, DevOps, AI, Machine Learning and WebRTC to one location.
Consumer-driven contracts are an essential part of a mature microservice testing portfolio enabling independent service deployments. In this presentation we'll provide an overview of the tools, patterns and pain points we've seen when implementing contract testing in large development organizations.
Containers and Kubernetes allow for code portability across on-premise VMs, bare metal, or multiple cloud provider environments. Yet, despite this portability promise, developers may include configuration and application definitions that constrain or even eliminate application portability. In this session we'll describe best practices for "configuration as code" in a Kubernetes environment. We will demonstrate how a properly constructed containerized app can be deployed to both Amazon and Azure ...
In his general session at 19th Cloud Expo, Manish Dixit, VP of Product and Engineering at Dice, discussed how Dice leverages data insights and tools to help both tech professionals and recruiters better understand how skills relate to each other and which skills are in high demand using interactive visualizations and salary indicator tools to maximize earning potential. Manish Dixit is VP of Product and Engineering at Dice. As the leader of the Product, Engineering and Data Sciences team at D...
In his session at 20th Cloud Expo, Scott Davis, CTO of Embotics, discussed how automation can provide the dynamic management required to cost-effectively deliver microservices and container solutions at scale. He also discussed how flexible automation is the key to effectively bridging and seamlessly coordinating both IT and developer needs for component orchestration across disparate clouds – an increasingly important requirement at today’s multi-cloud enterprise.