I respect Jim Jubak and enjoy reading his columns. I also respect any writer who, with reason, thinks outside the box. Jubak's latest column echoes what many experts and leaders in the real estate and finance industry have been saying: let's have the lenders, brokers, and builders fix the housing mess. To me, that makes little sense. First, the fact that an industry finds a way for a consumer to buy a product easier than he or she would otherwise, is not new, and goes on everyday. Look at car dealers!
Second, the regulatory oversight of builders and of lenders makes it realistically impossible to craft and implement a solution that benefits troubled consumers, and thereby fixes this "mess". This reasoning actually flies in the face of what many others believe, that we simply need more regulation and less discretion for the lenders, brokers, and builders.
A refreshing approach: why not treat housing like other products and commodities, and accept that there will be highs and lows, and inventory swings in both directions? Do we really need to make an industry (in this case, housing) pay extra for making its product more accessible to the consumers?
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