By Mark Stapp, ASU’s W.P. Carey School of Business | The Arizona Republic
President Barack Obama’s speech this month in Phoenix created another heightened public discussion about the housing market. In some respects, it was more of the same conversation about a complex topic that unfortunately, for the most part, has lacked a human element.
Most of the time, the public discussion about the housing market is about how it is improving — or not, in some places — as well as its impact on our economy. It is widely accepted that a recovered and healthy housing market is critical to the entire U.S. economic recovery.
We hear continued calls to reform the housing market, banking, the mortgage process and government-sponsored Fannie Mae and Freddie Mac. We also hear calls to require more private investment in the mortgage market and to prosecute executives involved in mortgage fraud.
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