Fragile Housing Market Is Abandoned by Washington
Concerns that recent mortgage rules have reinforced the dominance of Fannie Mae and Freddie Mac and that the FHA continues to play an outsized role in housing finance despite its financial weakness now dominate the debate on housing policy.
But no one in Washington is willing to upset the apple cart on housing policy. Even conservatives who argue for a smaller role of government in housing are wary of losing support from the powerful housing lobby.
Meanwhile, the debate on government's role in housing is likely to exclude any meaningful measures to ease credit.
-- Written by Shanthi Bharatwaj in New York
For more on housing policy, also read Obama Wants to Ease Mortgage Credit, But He Can't Say How and Mortgage Rules Could Remove Half of Today's Market>To contact the writer of this article, click here: Shanthi Bharatwaj. >To follow the writer on Twitter, go to http://twitter.com/shavenk. >To submit a news tip, send an email to: email@example.com.
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