By George Will concerning mortgages and the candidates take on them.
The market, which bewilders and annoys liberals by correcting excesses without the supervision of liberals, is doing that as housing prices fall far enough to stimulate demand. Witness this recent Financial Times headline:
“Property sales pick up as prices plummet.”
The story began: “Sales of previously owned homes in the U.S. rose for the first time in seven months in February, while sale prices fell by their most in at least 40 years.” By golly, the Gershwins were right: The age of miracles hasn’t passed.
By Golly is right!