Norbert Michel studies and writes about housing finance, including the reform of Fannie Mae and Freddie Mac, as The Heritage Foundation’s research fellow in financial regulations.View all authors
In an effort to reform the nation’s housing finance system, Senate Banking Chairman Tim Johnson (D-S.D.) and ranking member Mike Crapo (R-Idaho) will hold a… Read More
The Economist and George Selgin have provided us with two complementary pieces of financial history that provide background on the founding of the Federal Reserve…. Read More
Secretary of Housing and Urban Development (HUD) Shaun Donovan lamented statistics from a Pew report showing Hispanics lost 66 percent of their net worth between… Read More
In 2009, Congress used nearly $200 billion to bail out the housing finance companies Fannie Mae and Freddie Mac. These companies are still operating… Read More
The 2010 Dodd–Frank Act is a colossal regulatory mess that gave us, among other things, a new set of turf battles among regulators. The latest… Read More
Five years ago, Congress used nearly $200 billion to bail out the housing finance companies Fannie Mae and Freddie Mac. These companies are still operating… Read More
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.