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The FHA's success provides strong evidence that government can and should play a role in the nation's mortgage finance system. It also demonstrates that although government intervention in the economy during the Great Recession was messy, things would have been a lot messier without it. ↗
Too-easy credit and millions of bad loans made during the U.S. housing bubble paved the way for the financial calamity and Great Recession that followed. Today, by contrast, credit is too tight. Mortgage loans are particularly hard to get, creating a problem for the housing market and the broader economy. ↗
When I talk to people, their concern is, how are you going to create jobs? How are you going to help turn this economy around? How are we going to make sure that when my kids get out of high school or college there will be some job there? Those are the concerns that are on their minds. ↗
