I didn't say control, I said do as much as possible to help it. Like keeping rates as low as possible during the ARM resests coming.
Plus here's more fun from Cap Hill:
Homebuyer (not first time either) tax credit, MARKET ADJUSTED. So say in DC, you get a $25k credit and West Texas gets $5k.
Seperate mortgage money interest rates from the prime rate, so that higher rates will not choke off any movement.
Govt backed Mortgage Insurance for THE OWNER (PMI is for the lender!) so that if they ever fall under water, the insurance kicks in the difference and the market doesn't stall.
Start to pressure banks into 40 to 50 year loan adjustments for loans originated 2005-2007.
So...yeah the stuff Im hearing is crazy.....but does it seem that far fetched considering what's already going on? Look at what has occured under the "we have to do this for the good of the system." Give them and inch...tehy take a mile. Who is going to stop them...me and you on a message board?
The whole point right now.....to save housing and make everything look better so that the average person DOES NOT care about health care or cap and trade when they pass.