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The mortgage crisis: let markets work, but compensate the truly needy

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Author Info
William R. Emmons

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Abstract

As painful as it may be, letting the housing and mortgage markets sort out these problems on their own would be best for the economy in the long run. Large-scale government interventions are not necessarily the best policy responses, although those made truly needy by this crisis need to be helped.

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Publisher Info
Article provided by Federal Reserve Bank of St. Louis in its journal The Regional Economist.

Volume (Year): (2008)
Issue (Month): Jul ()
Pages: 10-16
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Handle: RePEc:fip:fedlre:y:2008:i:jul:p:10-16

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Related research
Keywords: Mortgages ; Financial crises;

References listed on IDEAS
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  1. David C. Wheelock, 2006. "What happens to banks when house prices fall? U.S. regional housing busts of the 1980s and 1990s," Review, Federal Reserve Bank of St. Louis, issue Sep, pages 413-430. [Downloadable!]
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This page was last updated on 2009-12-8.

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