From James Pethokoukis: Main Street may be about to get its own gigantic bailout. Rumors are running wild from Washington to Wall Street that the Obama administration is about to order government-controlled lenders Fannie Mae and Freddie Mac to forgive a portion of the mortgage debt of millions of Americans who owe more than what [...]
No doubt about it, we’re in a fix as far as housing goes. While some short sighted analysts are pumping up recent data alleging a growth in home sales, the fact of the matter is that in raw numbers of houses sold, we’re clearly in a housing Depression. Prices continue to drop, foreclosures continue at [...]