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    Are Teachers Unions to Blame for Housing Bubble?

    CATO’s Timothy Lee makes a great connection between the absence of school choice in our current education system and the recent housing bubble burst. First he quotes economist Robert Frank in Sunday’s Washington Post: In a well-intentioned but ultimately misguided move to help more families enter the housing market, borrowing … More

    Must Read Housing Bailout Q&A

    Pittsburgh Tribune-Review’s Bill Steigerwald posted a great Q&A interaction with Heritage housing expert Ron Utt this weekend. Excerpts include: Q: Is this subprime mortgage lending crisis sort of the final extension of this idea of liberalizing home buying? Is this what we get when we push it too far and … More

    Morning Bell: Toward Orderly Withdrawal

    Losses are mounting. The situation shows no sign of getting better. It’s clear that U.S. government intervention has made the problem only worse. The economy has been directly affected and Americans exposed to trillions in new debt risk. Leaders now talk of redoubling government efforts. It’s time for a change … More

    Tenants of the World, Unite!

    “So you bought an overpriced house or cashed out your home equity like an ATM? Here’s an idea: Take responsibility for your actions!” That’s the mood over at AngryRenter.com. The plain-spoken Web site run by FreedomWorks gives voice to what might be termed “the Silent Minority” of the mortgage- bailout … More

    We're All In This Together... Whether You Like It or Not

    USA Today’s take on the mortgage mess posed a crucial question: “Should taxpayers in Vermont be asked to bail out home buyers in Nevada?” The nation’s No.1 newspaper went on to note: “The answer now taking shape in Washington appears to be, ‘Yes.’” But the multi-billion dollar question for taxpayers … More

    More Rules to Avoid Another Housing Mess

    As Congress mulls what it can do to untangle the housing mess, it should take care to limit its largesse to helping only those people who really need help. We’ve already noted that Washington shouldn’t rush to bail out vacation homes. Or frauds. Or lenders who winked at frauds and … More

    Some Simple Rules to Avoid Another Housing Mess

    The New York Times is shocked – SHOCKED – to learn the Senate’s legislative remedy for the mortgage mess offers surprisingly little relief for folks with problem mortgages, but gives huge tax breaks to “automakers, airlines, alternative energy producers” and others. Doubtless the Gray Lady will be shocked at how … More

    Morning Bell: Steps to Halt Future Bailouts

    The Pew Charitable Trusts released a study yesterday surveying state action on the recent wave of increased foreclosures. Pew senior officer Tobi Walker told the Washington Post: “The states are experiencing this pain more directly than the federal government is.” This is partly true. A more accurate statement would be … More

    Mortgage Mess Varies by State

    Members of Congress, including three presidential candidates, are competing to “do something” to stabilize the housing market and show compassion after the wave of foreclosures on risky subprime mortgage loans. The crisis talk clouds the national picture, obscuring the varied state-by-state impact of the mortgage mess. The chart above uses … More

    Will FHA Save the Day?

    President Bush and some members of Congress want to dub the Federal Housing Administration as the White Knight who will rescue America from the mortgage mess. They want the agency to help homeowners refinance their subprime loans by offering to guarantee lenders it will cover the tab if the refinanced … More