Professor Elam

Robert Samuelson points out that the one thing that has to happen is happening, housing prices are falling. Until that happens the excess supply will not be removed from the market. Schemes to prop up folks that cannot afford the price they paid by jerry rigging mortgage rates or whatever are doomed to fail.  No one repeals supply and demand. Common sense from plain speakers like Gorbachev, Samuelson, and Tom Sowell, that is what the blog is all about.