Unintended Consequences of the Fannie / Freddie Bailout [View article]
Let's be real here - the US public policy has been to subsidize home ownership for many many years - interest deductions, federally supported loans, etc. This has led to overblown home prices, use of real estate taxes by local government as the primary revenue source, use of real estate appreciation as a substitute for personal savings, you name it.
The only way these distortions will go away is to get rid of this marketplace distortion completely - no housing subsidy.
Citibank - On Guard! - Cramer's Stop Trading! (9/12/08) [View article]
Unintended Consequences of the Fannie / Freddie Bailout [View article]
The only way these distortions will go away is to get rid of this marketplace distortion completely - no housing subsidy.