Friday, November 9, 2012

Housing

"President Barack Obama secured reelection while managing to talk around one area of economic policy in which experts frequently charge him with failure: managing the national housing crisis.

In a campaign dominated by talk of joblessness and what to do about it, the president hardly mentioned the epidemic of foreclosures, the fact that roughly one-fifth of all homeowners with mortgages owe the bank more than their properties are worth, or the uncomfortable reality that the American housing market is now largely propped up by taxpayers via public control of the mortgage finance giants Fannie Mae and Freddie Mac."

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