Media analysts and economists are confused about presidential candidate John McCain's proposed "Homeownership Resurgence Plan," which would see Washington spend up to $300 billion to become a "lender of last resort."
"At the beginning of Tuesday night's presidential debate, Mr. McCain unveiled a hugely ambitious and hugely expensive proposal to help solve the mortgage crisis that is at the root of the economic distress afflicting Americans and everyone else. If elected president, he would turn the United States government into the lender of last resort for homeowners at risk of defaulting on their mortgage.
The plan is called the American Homeownership Resurgence Plan...It would rescue people at risk of losing their homes by having the government take over their mortgage and provide a new one on better terms.
The government would purchase the mortgage from the lender and renegotiate a new mortgage with the homeowner, based on the home's reduced value, at a rate significantly lower than that offered by the banks. The cost: $300-billion.
But there are questions. Boy, are there questions."
FULL STORY: McCain's befuddling $300-billion mortgage-crisis plan
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
The state-sanctioned urbicide of Austin
People don’t kill cities. Freeways do.
US to reduce Colorado River water deliveries to Mexico
A new Colorado Treaty amendment reduces Mexico’s Colorado River water allocation by 250,000 acre feet.
5 New England states march closer to 800 megawatt wind energy project
Securing federal approval for the project may be complicated under the Trump administration, which has historically been hostile towards domestic wind power.
Baltimore to break ground on $50 million Transit Priority Project
The project will bring faster bus trips, safer streets and better bike connections to Baltimore.
Airbnb launches $250 million 'last-dollar financing' housing accelerator, makes first investment in Austin
The company will put $6.4 million towards affordable housing development in Texas’ capital.
FREE Course: Walkable City 1: Why Walkability?
After describing his path towards focusing on walkability as the essence of good planning, Jeff Speck marches through his five principal reasons for making more walkable places.
Reinventing Malls: Planning Alchemy—Turning Gray Fields Into Gold
The course focuses on the opportunities and imperatives that shape reinvention of mall sites.
Eagle County Government
Harvard University Graduate School of Design
Nashville Planning Department
The Architects Foundation
University of Cincinnati Online
The Pocatello Development Authority
The Urban Renewal Agency of the City of Pocatello
Journal of the American Planning Association