April Charney | Direct or Indirect, Mortgages Are Flawed

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April Charney | Direct or Indirect, Mortgages Are Flawed

April Charney | Direct or Indirect, Mortgages Are Flawed

NYT-

Direct lending is one way that the government could get involved in the mortgage market, but remember: The government is already integrated vertically and horizontally and up to its eyeballs in this business.

For many Americans, mortgages themselves are a bad fit: individuals who might be injured and out of work for six months, or families that could go from two incomes to one, or households entering retirement and living on a fixed income. For these and many other income-sensitive and credit-precarious American families, we need to think beyond the mortgage — not just add the government as another lender. And the current mortgage system already caters to the Americans who can comfortably afford a mortgage, with little risk of foreclosure — the sort of borrowers to whom the government would want to issue mortgages.

[NEW YORK TIMES]

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One Response to “April Charney | Direct or Indirect, Mortgages Are Flawed”

  1. Ken Hansen says:

    Very sensible. On the other hand, professional hacks Steven Greenhut and Arnold Kling dishonestly invoke the “protection of the taxpayer” argument, otherwise known as “red herring” blather. To these well edited propagandists, Government fails unless it is subsidizing or otherwise enabling the unfettered filling of their own corporate coffers. The “Government can do nothing right” screed is quaint bullshit, for without the Government their think tanks, tank, as it were. Kling is particularly annoying, it sounds like he’s saying ‘Oh hell, it’s so corrupt it ain’t even worth trying’

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