mbborak

The Right Way to Encourage Home Ownership

Once again, I agree with the above comments. Home prices simply have to come down to reasonable, even cheap levels. Once they are there, we can worry about how low-end buyers will be able to finance them and perhaps offer temporary tax credits that would have to be be repaid in order to spur the market's recovery.

Remember, we are coming off of record hight home ownership rates, and I simply don't see the need to offer further subsidies at this stage of the game, since we would just be propping up a market that has further to fall. It would be folly to try to get low income families into houses that will be worth less in a few years rather than simply waiting until these families can make their own determination of what they can afford.