But I hope that the Ghost of Homeownership Yet to Come would be much cheerier than Dickens’ spectral visitor and would show us a future with a housing and mortgage finance system that functions efficiently and provides adequate safeguards for consumers, lenders, and investors going forward.
I’m afraid I cannot describe for you, as assuredly as Dickens might, just what that future market will look like, but I will share my thoughts on some general principles that, I would argue, we should look for in new market structures or practices that may emerge.