rauljg69 Wrote:
Feb 18, 2013 11:46 AM
http://www.cato.org/sites/cato.org/files/serials/files/cato-handbook-policymakers/2009/9/hb111-22.pdf So CATO oversimplifies the whole thing and states that "state and local land-use restrictions—not loose credit, speculators, or Federal Reserve policies— are the real source of the recent housing bubble" So yeah the billions of dollars being made by securitizing subprime loans was just a small by product but local land zoning and land restrictions is the major culprit.