I've talked before about how the US is overinvested in housing, and how government policies like the GSAs and the mortgage interest deduction are responsible. Buzzcut the Dictator would get rid of both.
Here is a Fed study on the subject.
Over time, we would be a much richer country if we didn't subsidize home ownership.
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Buzz, homeownership isn't the problem, government manipulation of markets is.
If Fannie and Freddie were sold back into the private markets, they serve a very valuable service to helping take mortgages and put them in bond packages so investors can purchase in easy increments.
80% homeownership is a great target, but the best way for government to help that happen is to remove barriers like impact fees and high permit costs. Let the markets level risks by applying analysis and risk abatement insurances. The government isn't any good at these tasks.
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