We didn't actually solve this problem after 2008. We blamed the banks and just kicked the can down the road. http://www.economist.com/news/leaders/21705317-americas-housing-system-was-centre-last-crisis-it-has-still-not-been-properly …
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while that is true, the level of risk is relevant here. 30-60 day delinquency rates are at their lowest measured levels (1972)
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so you think this is fine over the long-term? But the other issues like zoning are still problematic?
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"more private capital" will have to address a few points http://www.wsj.com/articles/SB10001424127887324807704579087072063293460 …pic.twitter.com/Y68pllATkM
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tail risk always borne by state. It's a myth that banks/thrifts are "private"-- govt explicitly gtys deposits
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problem of housing finance is huge externalities resulting from intermediary failures.
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