Opinion: The Trump administration’s 'Memorandum on Housing Finance Reform' is a major disappointment, write peterjwallison and Edward J. Pinto
The Trump administration has finally turned its attention to housing policy. Unfortunately, the president’s Memorandum on Housing Finance Reform, issued last week, is a major disappointment. It will keep taxpayers on the hook for more than $7 trillion in mortgage debt. And it is likely to induce another housing-market bust, for which President Trump will take the blame.
The memo directs the Treasury to produce a government housing-finance system that roughly replicates what existed before 2008: government backing for the...
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