, Columnist
Washington Whiffs at U.S. Foreclosure Mess: Douglas Holtz-Eakin
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There is little doubt that the U.S. housing market is hurting; the latest S&P Case-Shiller index shows residential values declined 4.2 percent in the first quarter compared with the previous three months.
The market has struggled, partly because federal policy has wandered all over the proverbial lot. Congress should create a clear and effective strategy for supporting mortgages or, given the remote odds of that happening, let the market stabilize on its own.