About seventy percent of American families own their own homes, and for many their houses represent the bulk of their net worth. As is evident by the cascading mortgage market meltdown, housing policy affects not only the quality of community life but also the economic well-being of entire nations.
Although most housing in the United States is allocated in the private market, this market is heavily regulated and subsidized, with government policies dictating whether people can build, what type of housing is permitted, the terms of financing arrangements, and much more. Could government’s pervasive involvement be related to the very real problems of affordability, availability, mortgage defaults, and more? If so, the appropriate response would be to reduce, not increase, government involvement. In reassessing existing policies, Housing America is the most comprehensive and authoritative book available on resolving the current crisis.
