Obama to insist market provides 30-year mortgages

The Washington Post reports:

President Obama on Tuesday will for the first time insist that any future housing system in the United States makes 30-year mortgages widely available to borrowers, senior administration officials said, preserving a linchpin of the American economy but also continuing to expose taxpayers to risk from another housing meltdown. Obama previously called for the end of Fannie Mae and Freddie Mac, the mortgage finance giants that have helped ensure the availability of 30-year mortgages for generations. He has not said, however, what system should replace Fannie and Freddie — and that raised concerns that the 30-year mortgage might disappear, because banks have been unwilling to lend for such a duration without a government guarantee.

Because some people want a government run housing market.