The Home Defenders League, a community activist organization in California, released a report last week with the provocative title of "Home Wreckers: How Wall Street Foreclosure are Devastating Communities." The report makes a simple but powerful point that has not been widely appreciated. Property tax revenues, which many...

The New York Times ran a story earlier this week suggesting that if Fannie Mae and Freddie Mac cease to exist, the 30-year fixed-rate residential mortgage loan would become a "luxury" product rather than the norm. This kind of shift could have profound economic consequences that policymakers...

A new poll released by the Washington Post shows that just over half of Americans, and two-thirds of Democrats, believe that the government should impose a temporary moratorium on foreclosures. On the eve of an important election, the White House is definitely caught in a bad spot.

Someone needs to...