Urban Fold

Kill Fannie Mae and Freddie Mac

Scholars at the American Enterprise Institute think that the government should get out of housing finance because it has competing, irreconcilable goals when it comes to financing homes.

Daniel Indiviglio summarizes the AEI report for The Atlantic:

"It urges that government exit housing finance, except for a small, on-balance-sheet effort to help promote home ownership to lower- and middle-income Americans. It contends that the government doesn't have the ability to accurately price risk, and the private market does. Therefore, it should no longer guarantee the bulk of U.S. mortgages."

Indiviglio says the problem with the government being involved in financing homes is that the goal is politics, not profit.

Full Story: 5 Ways the Government Screws Up Housing Finance

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