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 SowellI'm so old that I can remember when most of the people promoting race hate were white.
Thomas SowellFour things have almost invariably followed the imposition of controls to keep prices below the level they would reach under supply and demand in a free market: (1) increased use of the product or service whose price is controlled, (2) Reduced supply of the same product or service, (3) quality deterioration, (4) black markets.
Thomas SowellBarack Obama has done more than anyone else to promote the dangerous illusion that we can choose whether to have a war or not. But our enemies have already made that choice. Retired Marine Corps General James Mattis said: โNo war is over until the enemy says it's over. We may think it's over, we may declare it over, but in fact, the enemy gets a voteโ.
Thomas Sowell