Tuesday, August 12, 2014

Fifty Years Of Government Intervention Fails To Boost Home Ownership
Despite decades of federal intervention in the housing market, home ownership rates are virtually the same today as they were in 1968, according to an brief released by the Heritage Foundation on Monday....

...The pace of government intervention was especially frenetic in the 1990s, the report says, such that, “from 1990 to 2003, Fannie [Mae] and Freddie [Mac] went from holding 5 percent of the nation’s mortgages ($136 billion) to more than 20 percent ($1.6 trillion),” all with implicit government backing....