Over Engineered Government Housing Aid Still Playing Catch Up

It’s easy to throw melons from the cheap seats but I will resist the temptation to harshly critique the programs put in place by both the Obama and Bush administrations to assist distressed homeowners and stop the bleeding in home values. However, a helpful lesson can be taken away from this experience… “Real life has more variables than the small set he has chosen to estimate.” -Nasim Taleb, Black Swan. What I mean by that is government sponsored and engineered programs like Help or Homeowners, HomeSaver, HAMP, HARP, etc, etc have struggled to stay ahead of an unprecedented amount of unknowns in the housing market. Consequently, these programs have ended up fighting yesterday’s wars. Initiatives first focused on delinquent borrowers, then negative equity, then unemployment…(read more)

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