Foreclosures and falling prices are but an effect of the real cause.
Anyone who says we need to stop foreclosures (McBama), and and stop falling prices doesn’t understand the problem: home prices went too high in the first place. That’s the cause, and of course it’s also the effect of lending standards, entitelment, lying, etc, but you get the point.
You can’t stop the consequences once prices outpaced reality. And any attempt to do so will be short-lived and reap greater consequences.
