Academic

RECOVERY SUMMER! Mortgage Bailout: Government Spin Accelerates. ?I don?t envy the folks over at Tr?

By Glenn Reynolds

RECOVERY SUMMER! Mortgage Bailout: Government Spin Accelerates. “I don’t envy the folks over at Treasury and HUD who, month after month, are forced to report lackluster statistics on the Administration’s mortgage bailout and find something positive to say about them. Unfortunately they painted themselves into a corner by inventing a ‘Housing Scorecard’ this summer, which only forces them to report more troubling numbers. . . . Yes, home prices are not in freefall, as they were before the current administration took office, but I’m not sure where they’re seeing ‘improving expectations.’ All I’m seeing are reports of double dips in home sales and prices, and increasing concern that the struggling job market will push more borrowers into foreclosure. When asked about that, Dr. Bostic replied only to the first part, about prices being better now than two or three years ago. He declined to answer the question: Where exactly are you seeing data that things are improving now?”

Full post as published by Instapundit.com on August 20, 2010 (boomark / email).