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How To Solve The U.S. Housing Problem And Avoid A Recession: A Revived HOLC And RTC

Paul Davidson ()

No 2008-021, SCEPA policy note series. from Schwartz Center for Economic Policy Analysis (SCEPA), The New School

Abstract: The Federal Reserve pumping in more liquidity and the government’s fiscal “stimulus†plan does not directly address the housing insolvency problem for millions of U.S. households. Instead, the author suggests a comprehensive program to create a major federal facility to refinance mortgages at low rates and extended maturities, and to finance new investment in private sector housing.

Keywords: HOLC; Stimulus; RTC; Liquidity; Crisis; Housing (search for similar items in EconPapers)
JEL-codes: D63 E21 H2 H30 (search for similar items in EconPapers)
Pages: 5 pages
Date: 2008-01
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