Upon gaining the presidency, Senator McCain would make the federal government spend part of its bailout money on bad home mortgages, allowing homeowners to stay put and make payments that reflect their homes' lessened values.
"Under the plan, the government would buy failing mortgages from homeowners and provide new fixed-rate mortgages. As a policy matter, the plan would likely have greater support among Democrats than Republicans. Economists with the liberal Center for American Progress have been pushing a similar idea for some time.
[McCain economic adviser Douglas] Holtz-Eakin said the plan would help stabilize the plunging values of mortgage-backed securities that have been at the heart of the crisis in the financial markets.
'Sen. McCain believes this is exactly the right kind of policy,' Holtz-Eakin said. 'Provide direct help to homeowners; at the same time, support the financial markets and keep them from further damaging the availability of credit to Main Street America, one of the - the real threats to the economy at this point in time.
The Treasury's current plans for the money, however, could be well under way by the time a new administration is sworn in next year, leaving fewer options for a new administration.'"
FULL STORY: McCain plan would buy bad homeowner mortgages
Biden Proposes Gas Tax Holiday to Reduce Gas Prices
President Biden asked Congress on June 22 to suspend federal fuel taxes, unchanged since 1993, for three months to provide motorists 'relief' at the pump. Additionally, he asked states to follow suit and for oil companies to increase refining.
Army Corps to the Rescue!
In the wake of the slow response by the Trump Administration to the devastation caused by the category 4 Hurricane Maria's direct hit on Puerto Rico on Sept. 20, the U.S. Army Corps of Engineers has been called to rebuild the infrastructure.
Subprime Loans Are Back—Now They're Called Nonprime Loans
Some say that "nonprime" loans will create the same financial ruins as their "subprime" predecessors. Others say the housing market needs ways for more people to buy homes and drive the industry.
Pennsylvania Mall Conversion Bill Passes House
If passed, the bill would promote the adaptive reuse of defunct commercial buildings.
Planning for Accessibility: Proximity is More Important than Mobility
Accessibility-based planning minimizes the distance that people must travel to reach desired services and activities. Measured this way, increased density can provide more total benefits than increased speeds.
World's Largest Wildlife Overpass In the Works in Los Angeles County
Caltrans will soon close half of the 101 Freeway in order to continue construction of the Wallis Annenberg Wildlife Crossing near Agoura Hills in Los Angeles County.
Eviction Looms for Low-Income Tenants as Rent Debt Rises
Nonprofit housing operators across the country face almost $10 billion in rent debt.
Brightline West Breaks Ground
The high-speed rail line will link Las Vegas and the Los Angeles area.
Colorado Bans No-Fault Evictions
In most cases, landlords must provide a just cause for evicting tenants.
City of Costa Mesa
Licking County
Barrett Planning Group LLC
HUD's Office of Policy Development and Research
Mpact Transit + Community
HUD's Office of Policy Development and Research
Tufts University, Department of Urban and Environmental Policy & Planning
City of Universal City TX
ULI Northwest Arkansas
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
