Anderson: Address the Housing Crisis's Underlying Issues
The following op-ed was crossposted from Roll Call.
President Barack Obama and Federal Reserve Chairman Ben Bernanke seem enamored with renting foreclosed properties to blunt price decreases and to stir economic recovery, but that’s a bandage for symptoms as opposed to a real cure.
Instead, we need to learn from the problems that landed us in this mess in the first place, working to bring government policies in line with good business sense and to incentivize market-driven development.
Or, in the words of investor Warren Buffett, “Should you find yourself in a chronically leaking boat, energy devoted to changing vessels is likely to be more productive than energy devoted to patching leaks.”