"Despite all the government's "help," the United States has higher mortgage rates in relation to the risk-free rate than other developed countries and a homeownership rate that falls in the middle among these same countries. These policies have left the American housing market in a shambles, requiring many repairs and years of recovery." - Peter Wallison and Ed Pinto, AEI
In the latest Financial Services Outlook, American Enterprise Institute (AEI) housing experts Peter Wallison and Edward Pinto explain how decades of government intervention have gravely harmed America's housing market.
Among their key points:
Peter Wallison is the Arthur F. Burns Fellow in Financial Policy Studies at AEI and previously served as general counsel of the Treasury Department, White House counsel to President Reagan, and as a commissioner on the Financial Crisis Inquiry Commission. He can be reached at firstname.lastname@example.org or through email@example.com.
Edward Pinto was a an executive vice president and chief credit officer for Fannie Mae. He has done groundbreaking research on the role of government housing policies in the lead-up to the financial crisis. Pinto is available for interviews and can be reached at firstname.lastname@example.org or through email@example.com.
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