Continuing Failed Federal Housing Policies

    Proposing solutions to the financial crisis without looking into the federal involvement in housing is akin to enacting immigration reform without dealing with our southern border and points of entry.  The federal involvement in housing, via the monstrosities know ad Freddie Mac and Fannie Mae, is what created the asset bubbles, propelled the growth of subprime mortgages, and took down the rest of the economy | Read More »

    Obama’s Egregious Hypocrisy on Housing

    Obama's Egregious Hypocrisy on Housing

    In 2010, Congress passed the Dodd-Frank Act, which  created the new “Bureau of Consumer Financial Protection (CFPB),” an all-powerful agency vested with the power to limit the choices of consumers in financial markets, making it harder and more expensive to obtain credit.  This unaccountable agency operates autonomously within the Federal Reserve and will not be subjected to congressional appropriations or oversight. Yesterday, the CFPB announced | Read More »

    The Forgotten Bailout

    When it comes to setting public policy fires, Democrats get away with serial arson.  A maladroit opposition party and a complaisant media ensure that the public will never pin the tail of blame on the donkey.  Nowhere is this more evident than with interventionist housing policy. Decade’s worth of government intervention in the housing market almost single-handedly took down the economy.  Bill Clinton’s National Homeownership | Read More »

    Scandal at the Fed (“Ben slapped for secrets”)

    Another chapter why Ben Bernanke (and Tim Geithner) must immediately be replaced and cannot be trusted with the finances of our country. From Saturday’s New York Post: Ben slapped for secrets By PAUL THARP Posted: 12:25 AM, March 20, 2010 Federal Reserve boss Ben Bernanke came under attack yesterday from the courts and politicians alike for his penchant to conceal the Fed’s deepest secrets. His | Read More »

    Well, now that’s a relief

    Thank goodness the 2d shift manager at McDonald’s can still get into that McMansion he’s been lusting after. From today’s Washtimes: While private lenders learned a lesson from the mortgage crisis and are shying away from easy-money loans, the FHA has stepped into the breach. The agency has provided backing for 37 percent of all mortgages used to buy homes this year. After the collapse | Read More »

    Foreclosure follies

    When I take a break from blogging, I’m a real estate title abstractor. I’m….in-between…. employers at the moment. Why? Nope. Not because of the foreclosures. If every house on the market that should be foreclosed was being sold, I would have a job. My industry depends upon the transaction, the sale, of homes. And responsible banks and buyers get titles checked before they buy. And | Read More »