The NYT reports on hostility to programs to intervene in the foreclosure crisis and focuses exclusively on many people's hostility to helping homeowners to get in over their heads. It never discusses hostility to the banks who now hold bad mortgages, who will be the primary beneficiaries of these measures.
It also relies on Nicolas P. Retsinas, the director of the Joint Center for Housing Studies at Harvard University, as one of its main sources. Mr. Retsinas is perhaps best known for dismissing the possibility that there was a housing bubble and encouraging low and moderate income people to buy homes even when they were at bubble inflated prices (discussed here).
Unlike many news organizations, the Prospect has remained staunchly committed to keeping our journalism free and accessible to all. We believe that independent journalism is crucial for a functioning democracy—but quality reporting comes at a cost.
This year, we’re aiming to raise $75,000 to continue delivering the hard-hitting investigative journalism you’ve come to expect from us. Your support helps us maintain our independence and dig deeper into the stories that matter most.
If you value our reporting, please consider making a contribution today. Any amount helps secure our future and ensure we can continue holding power to account.
