A Standoff Over How to Rescue the Housing Market (BusinessWeek Online)

[riky]

A Standoff Over How to Rescue the Housing Market
    (BusinessWeek Online)

 

BusinessWeek Online - What's the best way to stabilize plunging home prices? Treasury Secretary Hank Paulson and his staff are considering plans to push mortgage rates down to 4.5% in hopes of bringing buyers back into the moribund market. But many Democrats -- in Congress and on President-elect Barack Obama's team -- seem more set on pressing lenders to renegotiate troubled mortgages. That tack, championed by Federal Deposit Insurance Corp. head Sheila Bair, is aimed at trimming foreclosures and ending fire sales.


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