From Newsmax:

Government intervention in the housing sector is doing more harm than good and is actually hurting recovery instead of helping it, says real estate mogul Sam Zell.

President Barack Obama has proposed expanding government efforts to allow millions of struggling homeowners refinance their mortgages.

The problem with government intervention is that it doesn't allow the market to correct itself and fully recover, Zell says.

"Rather than let the elements of the business world take care of the problems, we basically stopped the process of creating market clearing," Zell tells CNBC.

"Had we allowed the market to clear without trying to stop reality... we would have a healthy housing market today."

One problem facing the housing sector today is that it's too easy for...

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