All Commentary
Tuesday, October 25, 2011

Obama Modifies Mortgage Refinance Program

“President Barack Obama offered mortgage relief on Monday to hundreds of thousands of Americans, his latest attempt to ease the economic and political fallout of a housing crisis that has bedeviled him as he seeks a second term…. Under Obama’s proposal, homeowners who are still current on their mortgages would be able to refinance no matter how much their home value has dropped below what they still owe.” (BusinessWeek)

Did it occur to the policymakers that this intervention will affect the terms of future leading?

FEE Timely Classic
“Can the Feds Save the Housing Market?” by Robert P. Murphy