Yes, There Was a Housing Mania. But Not Now.

One of the worst bipartisan policy decisions in the past
generation was the aggressive government push in the 1990s and
2000s to promote homeownership, beyond what the free market
could handle. Policymakers encouraged Fannie Mae and Freddie
Mac to gobble up lots of subprime debt, in turn boosting lending
to borrowers who couldn’t handle their loans.
But now a bizarre idea is making the rounds that, looking
back on it, maybe there wasn’t a housing bubble at all! Read Full Article »