The recent collapse of the housing market had many causes, including subprime mortgages, lax lending standards, and land use regulations. States with the worst land use regulations have been most affected, which is why any effort to revive housing markets must begin with land deregulation.
Issues 2012 provides candidates for elected office the ability to quickly identify the key issues of the day and present clear policy recommendations, supported by facts, for addressing them. Read More.
Areas with less land-use regulation consistently sustain housing prices that are affordable, while regions with greater regulations consistently sustain prices that are unaffordable to the majority of the citizens living in the region. Future federal housing-assistance programs should be linked to a requirement to lessen the burden of these regulations. Read More.
President Barack Obama’s partnership between the Department of Transportation and Department of Housing and Urban Development reflects an escalation in his apparent intent to re-energize and lead the Left’s longstanding war against America’s suburbs. Read More.
FYI: Heritage WebMemos are now called Issue Briefs. One of the troublesome aspects of President Obama’s State of the Union speech was that the much-hyped housing section was little more than a slightly revised… Read more
Abstract: The great and calamitous fiscal trends of our time—dependence on government by an increasing portion of the American population, and soaring debt that threatens the financial integrity of the economy—worsened yet again in 2010 and 2011. The United States has long reached the… Read more
President Obama’s Department of Housing and Urban Development (HUD) is beginning to insidiously intrude in local housing policies in a concerted effort to require racial and economic integration in American communities. It started in 2009, when HUD began using a settlement between the county of Westchester in New York and… Read more
Abstract: Agenda 21, a voluntary plan adopted at the 1992 United Nations Conference on Environment and Development, unabashedly calls on governments to intervene and regulate nearly every potential impact that human activity could have on the environment. However,… Read more
Congress passed a combined spending proposal (H.R. 2112) that includes an increase in the limits on mortgages held by the Federal Housing Administration (FHA), though Fannie Mae and Freddie Mac are left untouched. A forthcoming study by The Heritage Foundation demonstrates how federal intervention in the… Read more
In one spectacularly misguided move, a House–Senate conference committee has taken a step that will expand the federal presence in the housing markets, preserve Fannie Mae and Freddie Mac, and damage the near-bankrupt Federal Housing Administration (FHA) in the name of helping the housing sector to recover. One small provision… Read more
Lachlan Markay discusses compensation for Fannie and Freddie CEOs. … Read more
The Environmental Protection Agency (EPA) wants to implement stronger air pollution restrictions on ozone (smog) for the stated purpose of improving public health.[1] These regulations are misguided because they would impose significant costs for little or no benefit.[2] At the same time, policies being implemented at… Read more
Abstract: Fannie Mae and Freddie Mac—the government-sponsored mortgage giants—must be shut down. Both entities distort the market by issuing mortgage-backed securities with subsidized government guarantees that the mortgages will be repaid. If such guarantees are necessary, they should be priced and issued by the… Read more
Testimony before Subcommittee on Capital Markets and Government Sponsored Enterprises Committee on Financial Services … Read more
Abstract: The number of Americans who pay taxes continues to shrink—and the United States is close to the point at which half of the population will not pay taxes for government benefits… Read more
The collapse of the subprime mortgage market in late 2006 set in motion a chain reaction of economic and financial adversity that has spread to global financial markets, created depression-like conditions in the housing market, and pushed the U.S. economy to the brink of recession. In response, many in Congress and the executive branch have… Read more
The housing market is still weak,[1] and federal regulators are considering a regulation that could make matters even worse. Known as the Qualified Residential Mortgage (QRM) rule, the draft rule could have the effect of requiring many home buyers to have at least a 20 percent down payment… Read more
President Barack Obama's early comments on his opposition to suburban sprawl and his intention to alter the way Americans live and travel took a step closer to reality when he created an interdepartmental initiative on housing and transportation costs.[1] A March press release issued by the U.S. Department… Read more
Despite the many accolades for President Barack Obama's swift action on a major economic stimulus package, an outline of a comprehensive financial rescue package, and his most recent proposal for another bailout for homeowners who might not meet their mortgage payments, a growing number of critics and global investors have questioned the effectiveness of… Read more
In March 2009, the Secretaries of the Departments of Transportation and Housing and Urban Development issued a joint press release announcing a new interagency partnership and task force to create "affordable, sustainable communities." Among the several projects this partnership and its task forces will take on is the development of a new cost index that… Read more
Given the task of producing a plan to develop a new housing finance system in light of the 2008 crisis and the failure of both Fannie Mae and Freddie Mac—a task that everyone agrees will be extremely complex—the Obama Administration decided to punt. Rather than one detailed plan, it produced… Read more
When John F. Kennedy was President, just over a quarter of federal spending went to fund programs paying for some 21.7...… Read more
With debt and spending out of control, the good news is that the House Budget Committee is taking important steps toward...… Read more
The people of the United States ordained a Constitution of limited government. As time passes, the people have more of...… Read more
President Obama’s illegal non-recess appointments are unconstitutional and defy the process the Founding Fathers...… Read more
Attorney General Eric Holder used his testimony before a House committee on Thursday to tout the supposed need for...… Read more
During his State of the Union speech, President Obama introduced a new plan to save responsible homeowner $3,000 a year...… Read more
The President's State of the Union address tonight will no doubt grab most of the day's headlines as the president...… Read more
UPDATE: The U.S. Energy Information Administration announced on Jan. 27 that data used for its study of oil and gas...… Read more
On the front page of the White House's website, a clock slowly ticks away, second by second, counting down to the day,...… Read more
Citizens across America will have a powerful tool to hold their elected leaders accountable come January. The House of...… Read more
Distinguished Fellow
Senior Research Fellow in Retirement Security and Financial Institutions