Barack Obama went to Mesa, Arizona yesterday, a community hit hard by the nation’s housing crisis, and rolled out his plan to help up to nine million struggling homeowners.
At $275 billion, the plan is big — bigger than many had expected. But there are already those asking if it’s big enough to address the sheer scale of the problem.
And there are plenty more questions: Who exactly gets help, and who doesn’t? Where does it leave banks? And does this plan get to the root of the economic crisis?
This hour, On Point: Obama’s big move on housing.
You can join the conversation. What do you think of the plan? Have you seen the details? Are you encouraged? Confused? Are you among those eligible for help — or wondering why you're not?Guests:
Joining us from Washington is Michael Crittenden. He covers economic news for Dow Jones.
Joining us from Laguna Beach, Calif., is Susan Wachter, professor of finance and real estate at the University of Pennsylvania’s Wharton School.
And from New York, we're joined by Robert Shiller, professor of economics at Yale University. He collaborates with economist Karl Case to produce the Case-Shiller Home Price Index, the most widely used database of housing prices in the U.S.
This program aired on February 19, 2009.