November 11, 2008
..."I think I can say in the short-run with some confidence that it's a good idea," said Gary Painter, associate professor of policy, planning and development at USC. "There's such a stream of foreclosures... certain communities could experience a real undermining of their neighborhoods."...
...But the flip side of the plan could be hazardous in the long run, Painter said.
"The long-term issue with these types of bailouts is that 10 years from now that (buyers) will think it's still OK to buy a house with substantial price risk because the government might step in" to back your mortgage, Painter said...