No Surprise: Ambitious Plan to "Fix" Entire Housing Market Met With Mixed Reaction

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Posted To: MND NewsWire

Does the entire housing market need fixing? Senator Mike Crapo thinks so, and he has a gargantuan reform proposal on the table to prove it (covered here in February). Witnesses called to testify before The Senate Committee on Banking, Housing, and Urban Affairs this week weren't universally convinced, but acknowledged potential in several areas. Crapo's prepared remarks pointed out that ten years after the government put the GSEs Fannie Mae and Freddie Mac into conservatorship, they remain "stuck [there] with taxpayers still on the hook in the event of a housing market downturn. It appears that the old, failed status quo is slowly beginning to take hold again, with the government in some ways expanding its reach even further, entering new markets where it has never been before." Today, Fannie...(read more)

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