By Jonathan Bean | Tuesday September 7, 2010 at 5:48 PM PST | 1 Comment
The New York Times finally gets what we on the “free market “fringe” have said from the beginning (under Bush and now under Obama): Housing subsidies, easy credit, bribing banks to refinance those “under water,” and–even worse–extending “first-time homeowner” programs to the nth degree just doesn’t work! Artificial stimulation of housing caused this bubble....
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Tags: Austrian School of Economics, Bailouts, Business, easy credit, Economics, Fannie Mae, Federal Reserve, Housing, housing policy, Politics
By Emily Skarbek | Monday June 28, 2010 at 11:10 AM PST | 3 Comments
As expected by many economists, the Homebuyer Tax Credit did little to nothing to encourage new home purchases and only shifted the purchase of new homes from May to April. Howard Gleckman over at the Tax Policy Center reports on the waste and fraud afforded by deficit financed public policy of this sort, noting...
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Tags: Budget and Tax Policy, Corruption, economic stimulus, Economics, Employment, federal debt, government spending, Government waste, Housing, housing policy, Mercantilism, Money and Banking, political pork, tax fraud, Taxation