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Thursday, March 15, 2012

Is Obama Making Home Ownership an Entitlement?

From a chicken in every pot to a house for every citizen, the government's entitlement schemes rage on and on with no end in sight. Eventually, the bill must be paid by somebody.
Ever since the housing bust, restoring stability to the housing market has been a cornerstone of both the Bush and Obama presidential administrations. Most recently, President Obama introduced programs to reduce financing costs for mortgages originating or secured by the Federal Housing Administration and Ginnie Mae. This new initiative, however, is another step toward converting federal housing policy from one focused on housing opportunity to one guaranteeing homeownership as a new middle-class entitlement.
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Bastiat Institute