Martin Feldstein

Martin Feldstein’s Housing Rx

Smaller Mortgage, But Full RecourseIf you haven’t been paying attention, the administration has tacitly adopted a Japan-style, “muddle through” strategy to deal with the housing (and banking) bust. Namely, instead of forcing banks to take massive write-downs and pushing for regulatory overhaul, the government has ushered in an era of super-cheap money (at least for...
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