By Admin on May 30, 2008 in Government
Tim6298 asked:
What steps are the US government taking to fix the current housing and mortgage crisis in this country?
Content
What steps are the US government taking to fix the current housing and mortgage crisis in this country?
Content
At the moment it appears they aren’t, which is probably for the best. There are few problems where government intervention ever leads to improving conditions.
gunplumber_462 | May 31, 2008 | Reply
By pretending to work on it. That’s how they attack many problems. The problem is, when the government “fixes” something, it makes the problem worse. Remember the bailout, that fixed the economy by sending the market into a 3 day, 3,000 point plunge. The market has yet to make any recovery.
a_wood80 | May 31, 2008 | Reply
Their latest measure is to guarantee loans for new mortgages to lower the rates and make loans available so people can buy backlog of houses on the market and stop the fall in housing prices. They also have a program that encourage lenders to renegotiate mortgages that were given out at high interest rates, that will lower monthly payment so more people can afford to keep their homes. Most of the other actions so far has been to keep banks and other financial institution afloat by loaning them money and capital injections and guarantees against losses, so people will regain trust in the system.
meg | Jun 3, 2008 | Reply