Grim Housing Choice - Help Today’s Owners or Future Buyers - NYTimes.com: William H. Gross, "managing director at Pimco, a giant manager of bond funds, has proposed the government refinance at lower rates millions of mortgages it owns or insures. Such a bold action, Mr. Gross said in a recent speech, would “provide a crucial stimulus of $50 to $60 billion in consumption, as well as a potential lift of 5 to 10 percent in terms of housing prices.”"
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