让更多的家庭现在就需要现金:给银行更多的自由裁量权来发放房屋净值贷款和再融资抵押贷款

Kevin Erdmann
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引用次数: 0

摘要

冠状病毒大流行造成的经济混乱几乎肯定会导致经济收缩。有人呼吁采取大胆行动,减轻经济收缩的影响,并为收入可能暂时中断的苦苦挣扎的美国人提供现金。但这些行动,包括直接向美国家庭支付现金,将增加联邦赤字,而最近的巨额财政赤字已经降低了对立即增加联邦支出的热情。大流行将导致深度收缩,希望这种收缩是短暂的。在这段时间内,国民消费越能得到平顺,尤其是那些收入暂时受到最大冲击的家庭,经济复苏就会越快。也许有一种方法可以让美国家庭在这段时间里自力更生,减少对更多联邦支出的需求——通过放松对抵押贷款的一些限制,让美国人获得他们唯一最大的资产:他们的房子。这个国家正处于紧急状态,迫切需要流动性和目前有保障的支出来源。利用这种流动性来源的价值值得考虑。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
Get Cash to More Families that Need It Now: Give Banks More Discretion to Make Home Equity Loans and Refinance Mortgages
The economic dislocations caused by the coronavirus pandemic will almost certainly result in economic contraction. There have been calls for bold actions to attenuate the effects of this contraction and also to provide cash for struggling Americans whose incomes may be temporarily disrupted. But these actions, including direct cash payments to American households, will add to the federal deficit, and recent large fiscal deficits have tempered enthusiasm for immediate large federal outlays.

The pandemic will lead to a deep contraction that hopefully will be short. The more that national consumption can be smoothed during this time, especially for households that experience the largest temporary hits to their incomes, the quicker the recovery will be. There may be a way to allow American households to help themselves through this period and to lessen the need for more federal spending—by easing some of the restrictions on mortgage lending, to allow Americans to access their single largest asset: their homes. The nation is in the midst of an emergency, desperate for liquidity and for current sources of secured spending. It is worth considering the value of tapping this source of liquidity.
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