An Innovative Solution to the Housing Crisis

In an interview with The Wall St Journal, former Fed chairman Alan Greenspan offers the most innovative solution to the national residential real estate crisis that I have seen. It's wacky but clever: Change immigration rules to let in a lot more skilled immigrants, who will form new US households and buy excess housing inventory.

He tells the Journal the only sustainable way to increase demand for vacant houses is to spur the formation of new households. Admitting more skilled immigrants, who tend to earn enough to buy homes, would accomplish that while paying other dividends to the U.S. economy.

Find out if and how this plan could help the current housing crisis when you continue reading...

by The Freshman | 08/15/08

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An Innovative Solution to the Housing Crisis

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Can Citigroup Be Saved?

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