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Why Housing Is Still Hindering the Recovery

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At www.thefiscaltimes.com

Although Obama won reelection, the vast majority of voters still say the economy is weak and not getting better. Policymakers in Washington are now focused on another type of debt -- the public debt all taxpayers owe -- but the slow economic recovery, which depresses tax revenue, makes that problem harder to solve. Nearly 11 million Americans, or more than a fifth of homeowners, are buried in debt, owing more than their properties are worth after piling their life savings into their properties -- a persistent and largely unaddressed problem that represents the missing link in what many economists consider the administration's overall strong response to the recession.

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At www.thefiscaltimes.com


 

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