10 Years After Crisis, Mortgage Market Needs New Fixes

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Posted To: MND NewsWire

Happy Anniversary – or something… It is a decade since the financial crisis and ultimately the Great Recession began. Bear Stearns collapsed in March of 2008, the government sponsored enterprises (GSEs) Fannie Mae and Freddie Mac, were placed in conservatorship in August, and AIG, Goldman Sacks and many other banks were “rescued” by the U.S. Treasury in September. Much of the blame for triggering the events was laid at the feet of the housing industry. Now, ten years later, the economy is booming but housing is a bit of a mixed bag . Robert Abare, editor of the Urban Institute’s (UI’s) Urban Wire recently interviewed UI research associate Karan Kaul, getting his assessment of the housing market’s status ten years later. Kaul says the flawed regulations and lending practices that the market…(read more)

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