Industry NewsOpinion

Stabilize home prices, stave off default

Perspective: Fixing the Foreclosure Crisis
Published on May 6, 2009

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by CareyBot

Michigan has been in the heart of the foreclosure crisis for some time now. It's unbelievable the way our market has changed, and it's probably even more unbelievable the way it is being handled.

I could write a long story detailing a lot of things that need to be done and many of the big disconnects where different layers of bureaucracy don't communicate and cause the problems to magnify. There are only two that I'd like to point out now:

First off, the federal government's one-size-fits-all approach to the problem won't work.

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