August, 2009

Housing America: Building Out of a Crisis

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About seventy percent of American households own their own homes, and for many their homes represent the majority of their net worth. As evident by the cascading mortgage market meltdown and widespread defaults and financial bankruptcies, housing policy not only affects the quality of community life but also has a direct impact on their economic well-being of entire nations. Although most housing in the United States is allocated in the private market, this market is heavily regulated and subsidized, with government policies dictating whether people can build, what type of housing is allowed, the terms allowed in financing and rental contracts, and much more. Involving the work of sixteen economists and policy experts, now critically examines government housing policies in the United States and how they impact housing at all levels. Could government's pervasive involvement in housing be related to the very real problems of affordability, availability, mortgage defaults and loans, and much more? If so, the appropriate policy response would be to significantly reduce, not increase, government involvement. In reassessing government housing measures, Housing America is the authoritative and most comprehensive book available on resolving the housing crisis.

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