MoneyWise :: Some say, let the housing market crash

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Released: September 06, 2010

Some say, let the housing market crash

Source: David Streitfeld, New York Times (Free Registration)

The unexpectedly deep plunge in home sales this summer is likely to force the Obama administration to choose between future homeowners and current ones, a predicament officials had been eager to avoid.

Over the last 18 months, the administration has rolled out just about every program it could think of to prop up the ailing housing market, using tax credits, mortgage modification programs, low interest rates, government-backed loans and other assistance intended to keep values up and delinquent borrowers out of foreclosure.

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