Released: July 28, 2008

Housing rescue bill may fall short

Source: Anna Bahney, USA Today

Is it a remedy for the worst housing slump the nation has suffered in decades? Or merely a taxpayer-funded bailout that will fail to reverse the plunge in home prices, the surge in foreclosures and the grave threat that overhangs the economy?

The housing act, which won final approval in Congress on Saturday and which President Bush has said he will sign, is historic in its sweep and ambition. It aims to provide relief to homeowners, incentives to buyers, guidance to lenders and oversight to vital government-sponsored entities, such as Fannie Mae and Freddie Mac.

Who, really, will benefit? And for how long? Will the legislation make a real difference for those who most desperately need help? 

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