Housing markets

Baby steps on getting the government out of the mortgage business, and thus out of the housing bubble creation business, elicit cries of horror from, not surprisingly, interested parties.

I remain puzzled by the American fetish for home ownership. Renters are people too and there is no particular reason to subsidize the one and not the other. Also, though it might surprise some folks, the mortgage market did manage to function before Fannie and Freddie came along.

Hat tip: Ken Troske.