Government housing, again

“While homeownership is all very well, Pushing ownership on people who cannot afford it is a policy destined to backfire. In a particularly cruel twist, policies designed to make homeownership affordable leave those who can least afford it worse off, and inflict greater damage on the more modest neighborhoods where these families reside.”

You’d think that so soon after seeing what bad policy can do that a lesson would be learned. But no, the idea of free mansions for all is quite attractive. GHEI describes Reinflating the housing bubble, Loosened borrowing rules set the stage for another bust. Persistence might be a virtue but continually repeating the same thing and expecting different results is something else.

Comments are closed.