Can anyone explain why this is worth celebrating? Subsidizing demand and letting Wall Street/Fannie and Freddie lever up on housing again?? Why isn't anyone talking about actually lowering the cost of housing? Unified zoning codes? By right zoning approval processes? Reducing environmental regulations for housing investment? This sounds like a recipe for disaster to me, instead of adopting policies that are against strict ideological mores but ACTUALLY WORK (see falling home prices in Austin other pro growth jurisdictions) we are gonna throw gasoline on the fire.
"Lifting these constraints is important and useful, but a series of state-by-state, city-by-city, zoning-board-by-zoning-board battles is a generational struggle — it’s not a quick fix for suffering families. Mortgage lending standards, by contrast, are set nationally by the Federal Housing Finance Agency (and to an extent the Consumer Financial Protection Bureau) and could simply be made more lax.
Would this be courting another financial catastrophe?
I’m skeptical. For starters, the rules can be altered without going all the way back to the “liar loans” of yesteryear — there’s such a thing as an overreaction to a real problem"
Posted by open-border-libcuck1