The government should scale back the financial support it gives to
encourage homeownership, says Yale University economist Robert Shiller.
The issue is quite germane as the government considers what to do with
Fannie Mae and Freddie Mac, which increase the supply of money available
for mortgages, and the Federal Housing Administration, which directly
subsidizes homeownership, Shiller writes in The New York Times.
How the Federal Reserve handles its quantitative easing program also
involves the issue of government support for homeownership, he notes.
Experts credit the Fed's easing for much of the gain in home sales and
prices over the past year. (more)
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