Withdrawal Pangs

Today's "Socialist" Housing Market

Nice summary (below) of the challenges facing the housing market in the years -- and decades -- ahead.

After the last 18 months, arguably the same issue is confronting the banking system, the auto industry, the installment credit (credit card) market, the commercial paper market, etc.

Government officials generally agree that it would be better for private lenders to resume their traditional role as major providers of finance for home loans. But policymakers now face some tough choices. They must decide how to reduce support for the mortgage market without letting it collapse. And they must decide what kind of support the government should provide in the long run.

--"Mortgage Market Bound By Major U.S. Role"; The Washington Post

P.S.: Against creeping socialism? Consider this: according to the Post, nearly 90(!) percent of all new home loans are now funded or guaranteed by taxpayers.