Housing Markets & Finance

Anywhere we move from here in terms of supporting the housing market will be more expensive, so politically there will be pushback—which means there is a danger that we will settle in with the existing system for many years.

The uncertainty surrounding the future of the mortgage finance system has impeded the rebound of the housing market and the private housing-finance market. It’s just really hard for the players to make decisions when you don’t know what the rules are going to be in the future.

I don't think people have fully appreciated how deep the hole is. The Great Recession is going to be living in our collective homes for many more years to come.