The government has brought on the housing problem, partly by these very low interest rates, which encouraged many people to go way out on a limb. They've brought it on by highly restrictive building policies, which have caused housing prices to skyrocket artificially. And they've brought it on by the Community Reinvestment Act, which presumes that politicians are better able to tell investors where to put their money than the investors themselves are. When you put all that together, you get something like what you have.
Thomas SowellThe grand delusion of contemporary liberals is that they have both the right and the ability to move their fellow creatures around like blocks of wood - and that the end results will be no different than if people had voluntarily chosen the same action
Thomas SowellAfter political crusades for 'affordable housing' ended up ruining the housing market and much of the economy with it, many of the same politicians are now carrying on a crusade for 'affordable health care.' But what you can afford has absolutely nothing to do with the cost of producing anything. Refusing to pay those costs means that you are just not going to continue getting the same quantity and quality - regardless of what any politician says or how well he says it.
Thomas SowellIt is amazing how many of the horrors of the 20th century were a result of charismatic quacks misleading millions of people to their own doom. What is even more amazing is that, after a century that saw the likes of Hitler, Lenin and Mao, we still see no need to distrust charisma as a basis for choosing leaders, either in politics or in numerous organizations and movements.
Thomas Sowell