Policy makers are wrestling with a dilemma about the overhang of mortgage debt from the housing bust: to forgive or not to forgive? With prices down by one-third from their 2006 peak, more than 11 million homeowners are underwater, or owe more than their homes are worth. That is about 24% of all homeowners…
For decades America’s system of housing finance was the envy of the world. But reckless behavior on Wall Street and weak oversight in Washington during the 1990s and 2000s contributed to an unprecedented bubble and bust in the U.S. mortgage market, resulting in financial catastrophe by 2008. Among…
The Republican and Democratic conventions are almost upon us, and the housing crisis has finally been inserted into the presidential election. Maybe the President and his Republican rival see homeowners as nothing more than another campaign issue to be exploited, or maybe they are finally starting…
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