Fixing Overheated Housing Market with Half-Baked Bailout Plan
It’s the “housing crisis”; it’s the “subprime crisis.” But it’s also a reporting crisis. Average home prices are actually up 80 percent over the last seven years. But listening to journalists, it sounds like every house in America is worthless. The media have been quick to promote a government-backed “rescue” for mortgage holders who can no longer make payments.