Time to let the housing bubble burst

posted by
May 12, 2011
Adam Smith Institute
by Sam Bowman  
Posted in Commentary

"Like most other bubbles, it is a product of sustained government policies designed to privilege a special interest group -- in this case, homeowners. Government after government has tried to keep the bubble inflated to avoid their wrath. The more people throw their life’s savings into housing, the more the pressure on government grows to protect these investments. The consequences for the rest of the country have been ruinous: increased cost of rents, urban sprawl, inflation and a shortage of affordable homes." (05/12/11)



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