Despite the fact that many have weak credit, The Obama Administration is implying that our banking system leaves too many people behind in the housing market.
As if a Federal Housing Administration--which the Founding Fathers would be perplexed by--isn't enough of an impediment on the free market, we are now flirting with the same functions that led to the disastrous housing bubble just a few years ago. Interests Rates are already as low as they can feasibly go, and so we must wonder, if the President intends on making money even cheaper, are we risking another housing bubble?
Centralized planning for housing has a poor history--pun intended. Perhaps its time to quit this experiment of manipulating of prices.
For Washington Post's article on the matter, click here.