Isn't this exactly the type of government policy that helped promote the housing bubble and in turn led to our current recession?
WASHINGTON (AP) "” The Senate voted Wednesday night to give a tax break of up to $15,000 to homebuyers in hopes of revitalizing the housing industry, a victory for Republicans eager to leave their mark on a mammoth economic stimulus bill at the heart of President Barack Obama's recovery plan.
Republicans: We want to prove we can do stupid, populist sh*t too!
Update: Via TJIC, more hair of the dog:
Fannie Mae, the mortgage-finance company under U.S. government control, will loosen rules for homeowners seeking to lower their loan payments by refinancing.
Fannie Mae will drop some credit-score requirements, reduce income-documentation standards and waive the need for appraisals in some cases"¦