• The Heritage Network
    • Resize:
    • A
    • A
    • A
  • Donate
  • housing

    Getting Your Neighbor's Mortgage Off Your Lawn

    Did you know you are probably responsible for your neighbors’ mortgage payments? What? Heritage expert Norbert Michel explained: Nearly all new residential mortgages are currently being guaranteed by Fannie [Mae] or Freddie [Mac] because these companies buy mortgages from banks and then sell investments backed by the mortgages. And because … More

    Housing Finance: Fannie–Freddie 2.0

    Josh Rosner, who in Reckless Endangerment (2011) exposed the cronyism of Fannie Mae and warned of a meltdown of the government-sponsored enterprises (GSEs) as far back as 2001, recognizes that the Johnson–Crapo housing finance bill gives us Fannie–Freddie 2.0: Rather than fix these problems, legislators seek to demolish the current … More

    How to Avoid Another Housing Crisis, Explained in Under a Minute

    Should the government have a role in the housing market? Fannie Mae and Freddie Mac cost taxpayers billions of dollars, even in good economic times, write Heritage’s Norbert Michel and John Ligon. When the housing market collapsed in 2008, they note, the cost to taxpayers was even higher. The two … More

    Johnson–Crapo Housing Finance Reform Misguided

    Senators Tim Johnson (D–SD) and Mike Crapo (R–ID) recently released their new housing finance reform bill. As expected, the new bill makes the bad features of its Senate companion even worse. >>> Check Out: Johnson–Crapo Housing Finance Reform Misguided The core of both this bill and the one introduced by Senators … More

    One Problem We Still Haven't Fixed

    You may not have heard much about the housing market lately…but that isn’t because it’s safe. Leaders in Washington were in denial about Fannie Mae and Freddie Mac’s finances before the last housing crisis. We know how that turned out. And taxpayers are still on the hook for the loans … More

    How to Avoid Another Housing Crisis

    What’s one thing Congress could do to help the economy and American homeowners? Check out our infographic. Read the Morning Bell and more en español every day at Heritage Libertad. Quick Hits: White House to moms: Ask not what Obamacare does for you, but what you can do for Obamacare. … More

    How to Hide Billions in Taxpayer Money and Get Away With It

    Spine-tingling TV shows and movies are always featuring spy capers that are “off-book.” Their existence is on a need-to-know basis, and sure, they’re being funded, but no one sees where that money’s going. There’s a very real, very expensive—and a lot less thrilling—off-book operation going on in Washington. The Treasury … More

    Heritage Agrees With Schumer on Housing Finance Reform

    The whole point of a free-enterprise system is to allow both private gains and losses so that markets don’t end up with shortages and surpluses. Subsidization leads to things like inflated home prices, and inflated markets eventually crash, wreaking havoc on the way down. More

    HAMP: Focusing on Mortgage Relief Programs Misses the Big Picture

    The Washington Post has an article detailing the ups and downs of the Obama Administration’s Home Affordable Modification Program (HAMP). Heritage previously pointed out several flaws with HAMP, and it’s no surprise that nearly 30 percent of those who qualified for the program have re-defaulted on their mortgages. The Post … More

    Congress to Mega Banks: It Was All Your Fault—Pay No Attention to the GSEs

    Last week, Chairman Dave Camp (R–MI) outlined a new reform proposal that included a punitive tax on some of the largest banks in the U.S. The Chairman should be commended for tackling the complex issue of reforming our tax system, but it’s not at all clear what imposing an arbitrary … More