Obama's Housing Plan Is No Answer

President Barack Obama’s latest proposal to help struggling homeowners—to be followed soon by a student debt initiative—isn’t likely to be much more successful than previous efforts. An analysis by MF Global’s Washington Research Group estimates the plan to make it easier for homeowners to refinance their mortgages will target just “600,000 to 1 million more refinancings of underwater borrowers. … For those who get HARP refinancings, this offers economic help. But we don’t see how this turbo charges the economy.”

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