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

    Lowering Loan Limits: An Overdue Step to Bringing Private Capital Back to Housing

    As legislation moves through Congress to address the fate of Fannie Mae and Freddie Mac, the Federal Housing Finance Agency (FHFA) has indicated it will decrease the limit on the size of the loans these institutions can purchase starting in 2014. The FHFA should decrease the loan limit independent of … More

    Obama: End Fannie and Freddie, but Keep Government in Housing Business

    President Obama lent his voice today to the growing consensus in Washington that federally sponsored housing giants Fannie Mae and Freddie Mac must go. While this is a welcome stance, he also called for new government guarantees for the housing finance market, which would only perpetuate the dangerous taxpayer subsidy … More

    U.S. Mortgage Market Reform: Corker–Warner Bill Misguided

    Draft legislation by Senators Bob Corker (R–TN) and Mark Warner (D–VA) would wind down federally sponsored housing finance giants Fannie Mae and Freddie Mac, but it suffers from many of the same problems the system faced over the past two decades. The bill would replace the Federal Housing Finance Agency, … More

    Another Subprime Idea from Obama

    The Obama Administration is reportedly pushing banks to increase mortgage lending to people with relatively weak credit in hopes of boosting home sales. But the very same policy under Presidents Clinton and Bush contributed mightily to the housing bubble that ultimately devastated millions of families in mortgage default. Credit is … More

    IMF: Fannie and Freddie Threaten U.S. Fiscal Health

    Followers of the International Monetary Fund (IMF) have long joked that the fund’s acronym stands for “It’s Mostly Fiscal.” For a long time it has helped bail out basket-case economies with severe fiscal deficiencies, such as Greece, Russia, and Argentina. But a recent report shows that the IMF is now … More

    DeMarco Signals a Better Housing Policy by Putting Taxpayers First

    Ed DeMarco, the acting director of the Federal Housing Finance Agency (FHFA), got it right by putting taxpayers’ interests ahead of the Obama Administration’s wishes. DeMarco, whose agency controls Fannie Mae and Freddie Mac, says that the anticipated benefits of reducing loan amounts of underwater mortgages “do not outweigh the … More

    Morning Bell: What if Fannie and Freddie Were Eliminated?

    For the past several years, it’s not been an uncommon sight in Anytown, USA, to drive down the street and see home after home for sale after going through foreclosure. They are the still-lingering hangover from the housing crash that began in 2007. Though the true cause of what burst … More

    Chart of the Week: Nearly Half of All Americans Don't Pay Income Taxes

    This year’s Index of Dependence on Government presented startling findings about the sharp increase of Americans who rely on the federal government for housing, food, income, student aid or other assistance. (See last week’s chart.) Another eye-popping number was the percentage of Americans who don’t pay income taxes, which now … More

    Morning Bell: Dependence on Government Highest in History

    When John F. Kennedy was President, just over a quarter of federal spending went to fund programs paying for some 21.7 million Americans to be dependent on Uncle Sam. But as high as that spending and dependence on the federal government was then, it has exploded today, with one in … More

    State of the Housing Market: New Refinancing Promises?

    During his State of the Union speech, President Obama introduced a new plan to save responsible homeowner $3,000 a year on their mortgages by refinancing at historically low interest rates. Americans would be wise to be cautious, however, about the new efforts by the federal government. The federal government’s previous … More