Brook and Watkins at Forbes.com: End Washington’s homeownership crusade — VOICES for REASON

In their latest Forbes.com column, Don Watkins and Yaron Brook look at Washington’s longstanding policy of encouraging homeownership — and argue that it is un-American. They write:

For nearly a century it has been the policy of the U.S. government to increase American homeownership. Its efforts include (but aren’t limited to) bouts of easy money from the Fed, the mortgage-interest deduction, the exclusion of capital gains on primary residence sales, direct and indirect subsidies from the Department of Housing and Urban Development, and artificial liquidity pumped into the mortgage market via government sponsored entities Fannie and Freddie.

Policymakers assure us that the next generation of government housing programs will be “carefully designed” (bring on the next five-year plan, Comrade!). But the real question is why the government should be doing anything to promote homeownership.

Read the whole thing.

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