New York Times (December 2)
While there have been some signs of a housing recovery in the U.S., action is still required. “In all, nearly 12 million borrowers collectively owe $600 billion more on their mortgages than their homes are worth, a loss of wealth and a load of debt that make a strong and steady economic recovery all but impossible.” President Obama should “use his second term to get mortgage relief right and, in the process, put the economy on a firm footing.”While there have been some signs of a housing recovery in the U.S., action is still required. “In all, nearly 12 million borrowers collectively owe $600 billion more on their mortgages than their homes are worth, a loss of wealth and a load of debt that make a strong and steady economic recovery all but impossible.” President Obama should “use his second term to get mortgage relief right and, in the process, put the economy on a firm footing.”
Tags: Borrowers, Economy, Housing, Mortgages, Recovery, U.S.
