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

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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.

Suggested Citation

  • Paul Davidson, 2008. "How To Solve The U.S. Housing Problem And Avoid A Recession: A Revived HOLC And RTC," SCEPA policy note series. 2008-021, Schwartz Center for Economic Policy Analysis (SCEPA), The New School.
    • Handle: RePEc:epa:cepapn:2008_01
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    References listed on IDEAS

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    1. James E. Anderson & Eric van Wincoop, 2004. "Trade Costs," Journal of Economic Literature, American Economic Association, vol. 42(3), pages 691-751, September.
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    Cited by:

    1. Stephen Dunn, 2011. "Was Galbraith Right?," Challenge, Taylor & Francis Journals, vol. 54(6), pages 41-60.

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    Keywords

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    JEL classification:

    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • H2 - Public Economics - - Taxation, Subsidies, and Revenue
    • H30 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - General
    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement

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