Numbers lie - AKA Why Mike Konczal is wrong about housing lock
Mike Konczal of Rortybomb has a long post with many graphs that he feels prove housing lock is "not a major part of this crisis." He's wrong. Housing lock exists now; it is a problem; and it will continue to be a problem until people get their heads above water once again. Now how that will happen, I'm not sure at this point. But that millions of people are trapped in houses that cost less today than the value of their loan remains a big issue for many reasons. Though I am not an economist, nor do I have charts to display, I will explain some of the flaws of his argument.