We provide another perspective regarding Fannie Mae's and Freddie Mac's impact on the recent financial crisis. We conclude that the crisis and the GSEs being placed into conservancy were primarily caused by the proliferation of below prime mortgages, which led to their sustaining significantly...

During the 1960s and 1970s, the U.S. government closely regulated the single-family housing finance system. The regulation manifested itself in a highly specialized system with four notable characteristics: portfolio restrictions against investments in corporate assets, tax inducements to invest...

During the 1960s and 1970s, the U.S. government closely regulated the single-family housing finance system. The regulation manifested itself in a highly specialized system with four notable characteristics: portfolio restrictions against investments in corporate assets, tax inducements to invest...

This paper examines the role that the private sector can play in the creation of low-cost housing stock in India. We use theoretical and empirical evidence to establish the optimality of locating low-cost housing projects in peri-urban areas, and illustrate this with a case study of a successful...

Over the past decade, housing costs have risen faster than incomes. The need for affordable rental housing has well outpaced the number of available units as well as funding allocations at the federal level. Local regulation and land use policies that increase the cost of subsidized,...