Kevin Erdmann has a good op-ed in the Washington Post today, arguing one of the two core points that have defined his work for the past several years: Fannie and Freddie have set credit standards too high since 2007. (His other core point, that "closed access" superstar cities have made it too hard … [Read more...]
Housing Still Suffers the Same Ills That Caused the Great Recession—Just Not the Ones You Think
If you type “housing crisis” into Google search, “2008” is no longer the first result. The subprime mortgage crisis that toppled the global economy just a decade ago has been supplanted on Google trends by “housing crisis 2018.” This time, the crisis isn’t an overabundance of housing; it’s a chronic … [Read more...]
Obama administration pushing dissolution of Fannie and Fredie
Big news out of Washington: Fannie Mae and Freddie Mac – which many (including me) think were at the heart of the financial collapse, and currently have some stake in the vast majority of post-crash mortgages – may be getting wound down soon. This NYT is reporting that the Obama administration may … [Read more...]
Talking points on the housing bubble
By Sandy IkedaLast week I spoke to a standing-room-only crowd of students and faculty about the current economic and financial turmoil. I shared the podium with three of my colleagues, who range all the way from far to the left of Barack Obama to very, very far to the left of Barack Obama. … [Read more...]
Russell Roberts on Government Intervention in Housing
Russell Roberts of George Mason University, CafeHayek, and Econtalk wrote of series of Cafe Hayek posts on the various federal interventions in the housing market:Housing markets without the benefit of hindsightFannie reaches its goals--sort ofZero Down!Fannie and Freddie's other … [Read more...]