In the Richmond Fed bulletin, Renee Haltom writes,
The United States finds itself on the far end of the spectrum in many aspects of housing. At the funding level, the United States has the most government support of owner-occupied housing finance and is the heaviest user of securitization.
Read the whole thing. Above all, I believe that the U.S. is an outlier in terms of the success of interest-group lobbying in shaping housing policy. Just say no.
Aug 23 2011
David McRaney writes one of the most insightful paragraphs I have ever read. In a political debate you feel like the other side just doesn't get your point of view, and if they could only see things with your clarity, they would understand and fall naturally in line with what you believe. They must not understand, bec...
Aug 23 2011
Nominal wages rarely fall - even when there's high unemployment. Part of the reason is regulation, of course. But even under laissez-faire, employers have to cope with human psychology. Almost all workers think that nominal wages cuts are unfair. And while employers might be tempted to say, "Fai...
Aug 22 2011
In the Richmond Fed bulletin, Renee Haltom writes, The United States finds itself on the far end of the spectrum in many aspects of housing. At the funding level, the United States has the most government support of owner-occupied housing finance and is the heaviest user of securitization. Read the whole thing. Abov...
READER COMMENTS
effem
Aug 23 2011 at 8:48am
But if other countries are willing to backstop their banking system does it matter? My personal belief is that most governments are willing to aggressively support (distort) housing – just a question of when/how they are called into action.
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