Welcome back to the 70s, folks. Apparently, Obama is going to announce a housing plan with a stated goal of setting real estate prices above market prices. This despite the fact that market prices are still at unsustainable levels and need to fall.
Honestly, it appears that we're doing our level best to have a Japanese Lost Decade. The best thing to do is let the market find the floor as soon as possible. Whether that is 70% off in some markets or whatever, we need to find the sustainable price. This can't be done in Washington government offices.
Honestly, it appears that we're doing our level best to have a Japanese Lost Decade. The best thing to do is let the market find the floor as soon as possible. Whether that is 70% off in some markets or whatever, we need to find the sustainable price. This can't be done in Washington government offices.
Axelrod: Obama Has 'Solid' Housing Plan
By JOHN D. MCKINNON
The Obama administration this week will announce a "good, solid" plan with the goal of stemming mortgage foreclosures and putting a floor under falling real estate prices, a senior White House aide said on Sunday.
By JOHN D. MCKINNON
The Obama administration this week will announce a "good, solid" plan with the goal of stemming mortgage foreclosures and putting a floor under falling real estate prices, a senior White House aide said on Sunday.
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