Chris Arnold

Doby Photography / NPR

NPR correspondent Chris Arnold is based in Boston. His reports are heard regularly on NPR's award-winning newsmagazines Morning Edition, All Things Considered, and Weekend Edition. He joined NPR in 1996, and was based in San Francisco before moving to Boston in 2001.

Arnold is currently covering the collapse of the housing market. He's reported on how a breakdown in lending standards has led to the highest foreclosure rate in the United States in more than 50 years. For his series on the sub-prime lender Ameriquest, he interviewed former employees from around the country who described widespread fraud at the company's offices. With more than a million people now facing foreclosure, Arnold continues to cover the ongoing crisis and the efforts to resolve it.

For this work, Arnold earned a 2011 Edward R. Murrow Award for the special series, The Foreclosure Nightmare. He's also been honored with the Newspaper Guild's 2009 Heywood Broun Award for broadcast journalism. He was chosen by the Scripps Howard Foundation as a finalist for their National Journalism Award, and he won an Excellence in Financial Journalism Award from N.Y. State's society for CPA's.

Arnold has covered a range of other subjects and stories for NPR – from Katrina recovery in New Orleans and the gulf coast, to immigrant workers in the fishing industry, to a new kind of table saw that won't cut your fingers off. He traveled to Turin, Italy, for NPR's coverage of the 2006 Winter Olympics. He has also followed the dramatic rise in the numbers of teenagers abusing the powerful and highly addictive painkiller Oxycontin – more than 1 out of 20 high school seniors report using the drug.

In the days and months following Sept. 11, 2001 attacks, Arnold reported from New York and contributed to the NPR coverage that won the Overseas Press Club and the George Foster Peabody Awards. He chronicled the recovery effort at Ground Zero, focusing on members of the Port Authority Police department, as they struggled with the deaths of 37 officers - the greatest loss of any police department in U.S. history. Arnold followed the lives of those who lived and worked around ground zero - from bond-traders and Chinatown garment sewers to small business owners - as they sought to put their lives back together again.

Prior to his move to Boston, Arnold traveled the country for NPR doing feature stories on entrepreneurship. His pieces covered technologists, farmers, and family business owners. He also reported on efforts to kindle entrepreneurship in economically disadvantaged areas ranging from inner-city Los Angeles to the Pine Ridge Indian reservation in South Dakota.

Arnold has worked in public radio since 1993. Before joining NPR, he was a freelance reporter working out of San Francisco's NPR Member station, KQED.

Business
4:46 am
Thu May 24, 2012

Reports For Housing Industry Appear Promising

Originally published on Thu May 24, 2012 6:17 am

The latest reports show that both new and existing home sales are up. What's spurring the improvement, and can it last? Not all economists, however, are optimistic.

Economy
4:43 am
Thu May 17, 2012

Fed: Sizeable Risk From Capitol Hill Gridlock

Originally published on Thu May 17, 2012 6:58 am

The Federal Reserve has unsealed the minutes of its Open Market Committee meeting in April. Fed officials warn that a failure to agree on a federal budget plan could mean businesses will delay hiring plans.

Crisis In The Housing Market
5:59 pm
Tue May 1, 2012

Time To Trade The Lease For A Mortgage?

Steven Senne / AP

Originally published on Wed May 9, 2012 10:44 am

This week, the U.S. Census Bureau announced that in the first quarter of 2012, the American homeownership rate hit its lowest level in 15 years. During the housing boom, millions more Americans bought homes, bumping the rate to nearly 70 percent. Now, that buying spree has been replaced with millions of foreclosures, and most of those gains have been lost.

As the homeownership rate keeps falling, it has also become a very good time to buy a house. Very low interest rates, courtesy of the Federal Reserve, and falling prices are making it even cheaper to buy a house these days. Meanwhile, rents are rising around the country.

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Business
4:42 am
Mon April 23, 2012

Continued Job Growth Will Help Housing Industry

Originally published on Mon April 23, 2012 6:36 am

Homes sales are still weak and prices in many cities continue to fall. Overall, the housing market remains in the doldrums. But first-time buyers are returning, one signal that the worst may be over.

Crisis In The Housing Market
3:23 am
Mon April 16, 2012

Hoping For Payout, Investors Become Landlords

Joe Raedle / Getty Images

The housing market has a new frontier — turning foreclosed homes into rental properties. Some big-time investors are starting to buy up thousands of homes to turn into rentals. That might help shore up home prices. But some housing advocates are nervous.

For decades, most single-family homes available for rent have been owned by mom-and-pop landlords. Sometimes it's the nice old guy up the street who owns a couple of rental homes, and some even offer advice on the Internet.

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Crisis In The Housing Market
2:53 am
Wed April 11, 2012

Fannie, Freddie Weigh Mortgage Write-Downs

Hundreds of thousands of homeowners facing foreclosure might get help by having the amount they owe reduced by Fannie Mae and Freddie Mac.

This is a hot topic in Washington, D.C., with many Democrats pushing for these so-called "principal reductions" to try to help the housing market. On Tuesday, a top federal regulator came a step closer to allowing the move.

NPR and ProPublica reported three weeks ago that Fannie and Freddie had each just completed a new analysis and found that principal reductions would save the government-owned enterprises money.

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Technology
10:47 am
Mon April 2, 2012

Fixing The Cutting-Edge: Innovation Meets Table Saw

When you think of cutting-edge technology, power tools don't generally come to mind. Take the table saw: Many woodworkers are using 30-year-old saws in their wood shops and, among the major tool companies, there hasn't been much innovation since those decades-old tools came out.

But more and more inventors are trying to make these saws safer — and David Butler is one of them. At his home in Cape Cod, Mass., Butler flips on the fluorescent lights in his basement turned wood shop.

"I've been a lifelong woodworker," Butler says. And he has a dozen different power saws — table saws, band saws, scroll saws — to prove it, each of which is fitted with various prototypes of his invention.

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Economy
4:51 pm
Fri March 16, 2012

The Market's Finally Looking Up: Will It Last?

Richard Drew / AP

The stock market hit some major milestones this week: The Standard & Poor's 500 index reached its highest level in more than three years, the Dow Jones industrial average settled in above 13,000 — up about 24 percent since early October — and the Nasdaq rose to its highest level in 11 years. Still, the Federal Reserve has been warning not to get too excited about where the economy is headed next.

David Kotok, chairman and chief investment officer at Cumberland Advisors, says there are a bunch of reason for stocks to be rising.

"Europe didn't collapse — that was one," Kotok says. "We see improving employment statistics — the most recent one is this week's initial unemployment claims."

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Economy
6:01 pm
Tue March 6, 2012

How Many U.S. Jobs Does Apple Really Create?

Spencer Platt / Getty Images

Apple has about 47,000 workers in the U.S. That's not a huge amount for such a profitable and influential company. Now the tech giant is saying it has actually created about 10 times that many jobs indirectly.

Some economists are skeptical of the claim. And the move comes as Apple is facing increased criticism and scrutiny over labor practices at factories it outsources to in China.

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Your Money
5:01 am
Mon January 30, 2012

Freddie Mac Betting Against Struggling Homeowners

Freddie Mac, a taxpayer-owned mortgage company, is supposed to make homeownership easier. One thing that makes owning a home more affordable is getting a cheaper mortgage.

But Freddie Mac has invested billions of dollars betting that U.S. homeowners won't be able to refinance their mortgages at today's lower rates, according to an investigation by NPR and ProPublica, an independent, nonprofit newsroom.

These investments, while legal, raise concerns about a conflict of interest within Freddie Mac.

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