Cómo reparar el mercado inmobiliario en ruinas de Estados Unidos

NUEVA YORK – Una señal clara de una economía de mercado disfuncional es la persistencia del desempleo. En los Estados Unidos hoy, uno de cada seis trabajadores al que le gustaría tener un empleo de tiempo completo no lo encuentra. Es una economía con enormes necesidades insatisfechas y, aún así, con vastos recursos ociosos.

El mercado inmobiliario es otra anomalía estadounidense: existen cientos de miles de personas sin techo (más de 1,5 millón de norteamericanos pasaron por lo menos una noche en un refugio en 2009), mientras que cientos de miles de viviendas están vacías.

Por cierto, la tasa de ejecuciones hipotecarias está en aumento. Dos millones de estadounidenses perdieron sus casas en 2008, y 2,8 millones más en 2009, pero se espera que las cifras sean aún más elevadas en 2010. Nuestros mercados financieros tuvieron un pésimo desempeño –los mercados de buen desempeño y “racionales” no le prestan a la gente que no puede o no va a pagar- y, sin embargo, quienes manejaron esos mercados fueron recompensados como si hubieran sido genios de las finanzas.

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