While I agree that that is where responsibility lies as things stand, I do kind of feel that given the unusual nature of the housing market and the fact that a considerable number of people persist in buying into booms might mean that we should restructure things to help discourage that.
Like, maybe…I don’t know. Federal mortgage availability in a given metropolitan area could be conditioned on the Case-Schiller Index or something. That would tend to stabilize prices.
It’d also tend to discourage cities from blocking construction of new housing.
While I agree that that is where responsibility lies as things stand, I do kind of feel that given the unusual nature of the housing market and the fact that a considerable number of people persist in buying into booms might mean that we should restructure things to help discourage that.
Like, maybe…I don’t know. Federal mortgage availability in a given metropolitan area could be conditioned on the Case-Schiller Index or something. That would tend to stabilize prices.
It’d also tend to discourage cities from blocking construction of new housing.