mortgage market

Homeownership and Mortgage Debt

One of the rationales commonly given for massively subsidizing our mortgage market is that without such homeownership would be out of reach for many households.  Such a rationale implies that more debt should be associated with more homeownership.   (Let’s set aside the obvious, how are you actually an owner without any equity?)

Advocates Complain Banks Not Putting FHA at Enough Risk

A constant narrative of the financial crisis is that banks out-smarted the government by taking excessive risks, and that if only we had empowered regulators, the whole crisis would have been avoided.  The truth, however, is that government was often the driver of excessive risk-taking, and nowhere is that more true than in the mortgage market.

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