How to Help the Housing Market
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Hour 1
President Obama is touring the country pushing his new jobs plan. But many people are wondering why he isn’t giving equal attention to the ailing housing market which is crucial to mending the economy. In his recent address to a joint session of Congress, Obama made only a brief mention of the problems many homeowners are facing and yet housing prices are down to 2003 levels and a quarter of homes are either underwater or in foreclosure. This hour, we take a look at the housing market crisis –why is it such a drag on the economy and how can we fix it? Marty talks with SUSAN WACHTER, Professor of Finance and Real Estate at the Wharton School at the University of Pennsylvania and co-editor of The American Mortgage System: Crisis and Reform, and KATHLEEN ENGEL, a Professor of Law at Suffolk University Law School and author of The Subprime Virus: Reckless Credit, Regulatory Failure and Next Steps.
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[audio: 091511_100630.mp3]
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