Any recent news from wall street journal - Essay Example

Should Mortgage Lending Standards Ease? In his article that appeared on the Wall Street Journal on September 21, 2014, Nick Timiraos ponders whether the housing lending rates should be reduced. In his argument, he refers to the car rates, which set a car sales record after being lowered. Timiraos compares that to the housing sector that has not registered the expected results, an occurrence that has been attributed to the high housing rates in recent past (Timiraos). Personally, I share the same ideology as Nick Timiraos that stakeholders in the housing sector should consider reviewing the housing rates with the aim of improving sales.

My reasoning relies on the fact that housing is amongst the most significant contributors of our economy and yet the mortgage rates that are in place are not affordable to the low-income earners. The idea of adopting mortgages has always been meant to make the reality of building homes easier (Green 6). Nevertheless, according to the Department of Housing and Urban Development reports, though the housing sector has registered far-reaching improvement in recent years, a considerable section of the new homeowners resorted to constructing their homes instead of embracing the mortgage plan.

Comparing both population growth and the need to replace older houses to the development of the housing sector, one will not fail to recognize the fact that more houses should be put up. This can only be achieved if the housing rates are reviewed in favor of the market. By putting in place, favorable housing policies will create not only more jobs for the unemployed, but also boosts our economy and result in the housing sector recording its highest sales value yet. Works-CitedTimiraos, Nick. Should Mortgage Lending Standards Ease?

Wall Street Journal (2014).Green, Richard K. Introduction to Mortgages & Mortgage Backed Securities. Burlington: Elsevier Science, 2013. Internet resource.