Apr 28
Many economists and analysts would agree that the mortgage market meltdown, housing bubble and global financial crisis resulted from the political obsession in America to increase homeownership with easy credit and government housing policies. Even the House of Representative’s Committee on Oversight and Government Reform concluded last summer that:
The housing bubble that burst in 2007 and led to a financial crisis can be traced back to federal government intervention in the U.S. housing market intended to help provide homeownership opportunities for more Americans.
via Seeking Alpha.
