I don’t know if you noticed the article in the UT by Lew Sichelman or not, but it mentioned a program developed during the depression called the Home Owners’ Loan Corp. (HOLC). Do you think if the slump continues the Feds. will try something similar to save the economy? To quote the article, “Back then, about half of all mortgage debt was in default. Unemployment had reached 25%, thousands of banks and savings and loans had failed and annual mortgage lending had fallen by some 80%.” So we are not even close to those times currently, but we were not in a war in the 30’s either…. Just curious as to what an expert thinks will happen to speed the recovery. Thanks.
