The government exercises tremendous power over residential design in the US. Its influence is nearly invisible, because it works through complex financing programs, insurance incentives, and secondary markets. These mechanisms go unnoticed, but their effect is hard to miss—they remade the United … [Read more...]
Links
1. Shocker: The federal government is too incompetent to even sell its own buildings. Eh, oh well – it's not like it holds most of that property in the city with the most expensive office space in America or anything.2. Two State Senators from Queens are calling plans to toll the East River … [Read more...]
Bush’s “Ownership Society” and Subprime
From Rationalitate - The WaPo finally realizes the root cause of the subprime crisisAgencies like FHA and HUD, and pseudo-private agencies like Fannie Mae and Freddie Mac, were the government's tool to manipulate the market for mortgages, and manipulate it they did: 40% of all mortgages are … [Read more...]