The Coming Trump Housing Crisis
The Trump administration has finally turned its attention to housing policy. Unfortunately, the president’s Memorandum on Housing Finance Reform, issued last week, is a major disappointment. It will keep taxpayers on the hook for more than $7 trillion in mortgage debt. And it is likely to induce another housing-market bust, for which President Trump will take the blame.Trump pushing for a meeting of the elders.
The memo directs the Treasury to produce a government housing-finance system that roughly replicates what existed before 2008: government backing for the...
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