"History is a wonderful thing, if only it was true"

Tuesday, August 10, 2010

Any hope for housing?

Politicians too concerned with elections, not reality.

Fair Game - Freddie, Fannie and the Third Rail of Housing Policy - NYTimes.com:

"The Treasury’s study on Fannie, Freddie and housing finance must be delivered to Congress by the end of January 2011. In a speech last week, Timothy F. Geithner, the Treasury secretary, told a New York audience that resolving the companies isn’t “rocket science.”

But attaining genuine remedies for our housing finance system could actually be harder than rocket science. That’s because it would require an honest dialogue about the role the federal government should play in housing. It also requires a candid conversation about whether promoting homeownership through tax policy and other federal efforts remains a good idea, given the economic disaster we’ve just lived through."

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