“Indeed, as we go forward, there seems to be a lot of room for consensus and common ground for minimizing the impact of the correction on homeowners, communities, and the economy. The notion seems pretty fundamental in this country tha...
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“So, looking back, we know what led up to the housing correction – risky lending chasing rising home prices fueling more risky lending – until the bubble burst. Looking at the situation now, there are some short-term remedies t...
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“Long-term, I believe the focus should be two-fold. First, we need to make balanced reforms to the lending system. Second, we need to restore the fundamental healthy demand for housing, based on people who want and can afford to buy a...
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“Let me sketch some immediate actions that I believe would make the slowdown shorter and shallower… Here are five short-term remedies: First, the Treasury Hope Now initiative is an important step. By helping ...
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“Let me review briefly how we got here. As the decade started, incomes were rising and interest rates were low and stable. Demand for homes outpaced supply, driving a sustained boom in home prices. Affordability plummeted. &...
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