The Worst News Yet for the Housing Market

by Alex Stenback on February 13, 2008

Want a recipe to make a bad problem worse?  This is it. 

From the WSJ:

Tensions over housing and credit are emerging across the country as voters confront the reality that their biggest personal investment is no longer a guaranteed store of wealth…What is notable in the unfolding fight for Congress is how the collapse of the housing bubble has so swiftly become a defining political issue

The politicians smell votes in this here crisis, and are latching on. 

Though any rational observer will tell you that there is nothing Washington can do to stop the fall or re-inflate home prices, that won’t stop them from trying.  Might as well drag a caribou carcass into a pack of wolves and tell them not to eat.
Voters Feel Mortgage Crisis [WSJ]

{ 2 comments… read them below or add one }

Nightwatch February 15, 2008 at 2:29 pm

The article is right on. The politicians will get into things they no nothing about and add a bunch of regulations that will cost everyone more to run their business. Or they will come up with some scheme where the taxpayers have to pay down all the useless paper out there.

Mortgage Calgary February 27, 2008 at 12:12 am

As a Canadian, it’s pretty interesting to watch this entire mess unfold. Some are predicting a similar fate for us in a few years. We will see.

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