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3 Big Trump-Nadler Scuffles Before the Real Estate Mogul Became President
A rivalry that goes back to the mid-1980s culminates this week as Jerry Nadler presides over the next round of House Democrats’ impeachment hearings targeting Donald Trump. What started as a spat in which a New York state legislator tried to block a New York real estate mogul’s construction of luxury apartments has morphed into a…
Private Capital, Not Crony Government Housing Trust Funds, Should Finance Housing Markets
Recently, the House Financial Services Committee marked up a bill that would prevent Fannie Mae and Freddie Mac, under certain financial conditions, from funding two affordable housing trust funds created by the Housing and Economic Recovery Act of 2008. Through that law, Congress authorized the Federal Housing Finance Agency to direct Fannie Mae and Freddie…
146 in Real Estate Industry Buck National Group by Backing GOP Tax Plan
Nearly 150 real estate professionals from 34 states Monday urged congressional Republicans to pass their tax reform package, saying it would “unleash economic growth, create jobs, and increase wages.” In a letter addressed to House Speaker Paul Ryan and Senate Majority Leader Mitch McConnell, the 146 signers buck their industry’s trade association with support for…
Why Shoring Up Fannie and Freddie Would Hurt the Housing Market
Almost a decade removed from the last housing crisis, the economy and housing market have improved—yet the federal government continues to hold significant influence over the housing finance system. The housing market is showing some signs of growth, including a steady decrease of “underwater” homeowners—a trend certainly driven by the increases in home prices across…
Proposed Legislation Would Increase Bureaucratic Interference in Housing Market
The Senate may move forward this week on an energy bill that would result in more government meddling and wasting taxpayer dollars on activities better left for the private sector. Members have offered more than 150 amendments, many of which would make an already bad bill even worse. One such example comes from Sens. Michael Bennet,…
How the Government Held Back a Real Housing Market Recovery in 2015
Seven years after the housing market collapse, the housing market continued a lopsided recovery in 2015. Overall, the housing market was stalled by a combination of meddling from the federal government and the continued weaknesses in the broader economy and labor market. Those select housing markets showing strength did so mostly in terms of house…