The only sustainable way to increase demand for vacant houses is to spur the formation of new households. Admitting more skilled immigrants, who tend to earn enough to buy homes, would accomplish that while paying other dividends to the U.S. economy.

If we allow terrorism to undermine our freedom of action, we could reverse at least part of the palpable gains achieved by postwar globalization. It is incumbent upon us not to allow that to happen.

Deficit spending is simply a scheme for the confiscation of wealth.

Well, you probably will always believe there should be laws against fraud, and I don't think there is any need for a law against fraud.

Even though some down payments are borrowed, it would take a large, and historically most unusual, fall in home prices to wipe out a significant part of home equity. Many of those who purchased their residence more than a year ago have equity buffers in their homes adequate to withstand any price decline other than a very deep one.

Any informed borrower is simply less vulnerable to fraud and abuse.

Credit-default swaps, I think, have serious problems associated with them.