The nation undoubtedly faces an affordable housing problem, one that can be understood through the economic lens of housing supply-and-demand. Since the Great Recession, mortgage rates have remained low but at the expense of overall housing costs, with prices of the average American home soaring to $316,000 in June of 2019. A study by Freddie Mac attributes the rise … Continue reading
Tag Archives: housing reform
Housing Finance Reform: Corker-Warner Tackles Fannie and Freddie
In response to the 2008 crash of the housing market, the Housing and Economic Recovery Act of 2008 created the Federal Housing Finance Administration (FHFA) to serve as government conservator of Fannie Mae, Freddie Mac, and the Federal Home Loan Banks; and injected $188 billion in taxpayer funds to bailout the agencies collectively known as … Continue reading