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
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Army Corps to the Rescue!
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Pennsylvania Mall Conversion Bill Passes House
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World's Largest Wildlife Overpass In the Works in Los Angeles County
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U.S. Supreme Court: California's Impact Fees May Violate Takings Clause
A California property owner took El Dorado County to state court after paying a traffic impact fee he felt was exorbitant. He lost in trial court, appellate court, and the California Supreme Court denied review. Then the U.S. Supreme Court acted.
California Grid Runs on 100% Renewable Energy for Over 9 Hours
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New Forecasting Tool Aims to Reduce Heat-Related Deaths
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AI Traffic Management Comes to Dallas-Fort Worth
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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.
