Government considers next moves for Fannie and Freddie
Treasury Secretary Tim Geithner convenes a meeting of mortgage analysts and economists today to discuss the future of mortgage financing. There will be a lot of nitty-gritty details, including the amount of debt the federal government should back and the proper role of securitization. However, there’s a bigger question that gets at the heart of American culture: Is home ownership still a social good in and of itself? And how much should the government put on the line to encourage it?
We discuss the implications of the government’s next moves, and we want your input: Should the government encourage people to buy their homes? Is property ownership a social good in America today?
Louise Story joins us to break down what’s on the table today. She’s the Wall Street and finance reporter for The New York Times. Also with us is Christopher Mayer, a senior vice dean and professor of real estate at Columbia Business School.
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