Obama Housing Fix Faltered on Carrots-Not-Sticks Policy

Three years ago, when President Barack Obama unveiled his plan for solving the U.S. housing crisis, one in five borrowers owed more on mortgages than their homes were worth, banks were repossessing 74,000 homes per month and sale prices had plunged 30 percent from their 2006 peak.

“All of us will pay an even steeper price if we allow this crisis t