September 30, 2008

Housing Question

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HOUSING QUESTION….I have a question related to the bailout bill that maybe some economist can answer. Here it is:

  • Much of the grassroots on both left and right feels that if we’re going to bail out the fat cats on Wall Street, we should also bail out homeowners. This seems only fair, and there are various proposals floating around for doing this.

  • Economists seem to unanimously believe that housing is still overpriced and needs to be allowed to drop to its natural level, the sooner the better.

These two desires are in tension, aren’t they? If we prop up homeowners with bad loans, we prop up home prices at the same time, don’t we? Is there an answer to this dilemma? Or am I just missing something?

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GREAT JOURNALISM, SLOW FUNDRAISING

Our team has been on fire lately—publishing sweeping, one-of-a-kind investigations, ambitious, groundbreaking projects, and even releasing “the holy shit documentary of the year.” And that’s on top of protecting free and fair elections and standing up to bullies and BS when others in the media don’t.

Yet, we just came up pretty short on our first big fundraising campaign since Mother Jones and the Center for Investigative Reporting joined forces.

So, two things:

1) If you value the journalism we do but haven’t pitched in over the last few months, please consider doing so now—we urgently need a lot of help to make up for lost ground.

2) If you’re not ready to donate but you’re interested enough in our work to be reading this, please consider signing up for our free Mother Jones Daily newsletter to get to know us and our reporting better. Maybe once you do, you’ll see it’s something worth supporting.

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