What can the Goverement do to Improve the Housing Market

The government shouldn't do anything to prop up the housing market! Let the market clean itself up.

The Frank-Dodd initiative is the best way, and it is here.

http://www.nypost.com/seven/03142008/business/frank__dodd_push_houing_plan_101978.htm

WH seems more open to talk to Frank...

http://www.cnbc.com/id/23706965

dude, banks have already tightened their lending standards. and the Fed has cut rates so much that anything more won't make a difference (it actually hasn't so far).

The Frank/Dodd plan expands on a program that already exists but was little known. And the Fed Govt has also begun funding local communities to provide counseling to homeowners at risk of foreclosure.

as for the election, I think it's the democrats who need to restore confidence in their party - but that's a diff story.

Isakson is pitching an idea to his colleagues in Congress: a $15,000 tax credit to anyone who agrees to buy a home. Congressional budget analysts project the program would cost $14 billion over the next few years. But Isakson said the credits are well worth the hefty price tag. "If we can convince buyers to come back to the marketplace and buy these houses, then the houses aren't vacant. It's replaced by an owner-occupant, who is there making payments on a loan and helping all of the other houses around."

Senate Republican leaders have signed on to the tax credit idea. But they have to corral support from Democrats.

I'd like to see a 25,000 Tax credit.

They should lighten up on Freddie and Fannie so that they can gobble up more garbage loans. Idiots.

tax credit sounds intriguing, essentially it's bailout b/c it's still costing the gov't money in lost revenue. Homeowners already get tax credits for mortgage interest (and prop taxes unless you have to pay the AMT). meanwhile the middle class is increasingly getting screwed with the AMT each year, a tax program that was meant to apply to the super rich. and congress can't afford to adjust it because they can't figure out where to raise taxes elswhere.

Isnt Spunky the guy always defending super high prices and making fun of renters? Ahahahahahaa, and now he needs a tax break to help with the mortgage, ahahahahahaha. Hypocrite.

How about not stupidly bidding up prices in the first place. You wanted the super high mortgage, now live with it.

P.S. - Republicans would never have lost confidence in their party if they didnt back a complete idiot like Bush 100% for two terms. Man, I am starting to think you might be a Bush voter yourself Spunky.