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HOUSING QUESTION….I have a question related to the bailout bill that maybe some economist can answer. Here it is:

  • Much of the grassroots on both left and right feels that if we’re going to bail out the fat cats on Wall Street, we should also bail out homeowners. This seems only fair, and there are various proposals floating around for doing this.

  • Economists seem to unanimously believe that housing is still overpriced and needs to be allowed to drop to its natural level, the sooner the better.

These two desires are in tension, aren’t they? If we prop up homeowners with bad loans, we prop up home prices at the same time, don’t we? Is there an answer to this dilemma? Or am I just missing something?

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FOLLOW THE MONEY

Corporations and billionaires don’t fund journalism like ours that exists to shake things up. Instead, support from readers allows Mother Jones to call it like it is without fear, favor, or false equivalence.

And right now, a longtime friend of Mother Jones has pledged an incredibly generous gift to inspire—and double—giving from online readers. That's huge! Because you can see that our fall fundraising drive is well behind the $325,000 we need to raise. So if you agree that in-depth, fiercely independent journalism matters right now, please support our work and help us raise the money it takes to keep Mother Jones charging hard. Your gift, and all online donations up $94,000 total, will be matched and go twice as far—but only until the November 9 deadline.

$400,000 to go: Please help us pick up the pace!

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