“The Obama administration on Monday plans to announce a campaign to pressure mortgage companies to reduce payments for many more troubled homeowners, as evidence mounts that a $75 billion taxpayer-financed effort aimed at stemming foreclosures is foundering.” (New York Times, Sunday)
If government makes it easier to change the terms of loans, it will make it harder to get loans.
FEE Timely Classic
“Government Intervention Is Needed to Solve the Housing Crisis? It Just Ain’t So!” by Steven Horwitz
