If, for example, the administration really is against “a dictatorial government that tells certain industries they're not allowed to do what they need to do,” then getting the government out of housing finance is the way to go. More importantly, by this time, the federal government and the financial industry were fully invested in “growing availability of mortgage funds on more liberal credit terms.” While only about 8 percent of U.S. Department of Veterans Affairs loans in 1953 were made with no downpayment, that figure shot up to more than 28 percent in 1954, with a similar rise in maturities. By the end of the 1970s, the question of the GSEs’ public purpose versus private profit was as cloudy as ever, and the vested interest groups had successfully walled off the GSEs from privatization.
Author: Norbert Michel, Contributor, Norbert Michel, Contributor https://www.forbes.com/sites/norbertmichel/
Published at: 2025-06-18 21:31:38
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