New馃摎 Introducing our captivating new product - Explore the enchanting world of Novel Search with our latest book collection! 馃専馃摉 Check it out

Write Sign In
Deedee BookDeedee Book
Write
Sign In
Member-only story

How The Government Stole Billions From The American Dream Of Home Ownership

Jese Leos
5.6k Followers Follow
Published in Another Big Lie: How The Government Stole Billions From The American Dream Of Home Ownership And Got Caught
5 min read
1.3k View Claps
75 Respond
Save
Listen
Share

The American dream of home ownership is under attack. The government's policies have made it harder for Americans to buy homes, leading to a decline in homeownership rates and a widening wealth gap.

Another Big Lie: How the Government Stole Billions From The American Dream Of Home Ownership And Got Caught
Another Big Lie: How the Government Stole Billions From The American Dream Of Home Ownership. And Got Caught!

4.6 out of 5

Language : English
File size : 1288 KB
Text-to-Speech : Enabled
Screen Reader : Supported
Enhanced typesetting : Enabled
Word Wise : Enabled
Print length : 276 pages

The Government's Role In The Housing Market

The government plays a major role in the housing market through its policies and regulations. These policies include:

  • Zoning laws
  • Building codes
  • Mortgage interest tax deduction
  • Federal Housing Administration (FHA) loans
  • Government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac

These policies have a significant impact on the cost and availability of housing. For example, zoning laws can restrict the construction of new homes, which can drive up prices. Building codes can also add to the cost of construction.

The mortgage interest tax deduction is a tax break that allows homeowners to deduct the interest they pay on their mortgages from their taxable income. This deduction can save homeowners thousands of dollars each year, making it easier for them to afford a home.

FHA loans are government-backed loans that are available to low-income borrowers. These loans have lower down payment requirements and interest rates than conventional loans, making them more affordable for first-time homebuyers.

GSEs Fannie Mae and Freddie Mac are government-sponsored enterprises that buy and sell mortgages. This helps to create a secondary market for mortgages, which makes it easier for banks to lend money to homebuyers.

How The Government's Policies Have Made It Harder To Buy A Home

The government's policies have made it harder to buy a home in a number of ways. For example:

  • Zoning laws can restrict the construction of new homes, which can drive up prices.
  • Building codes can also add to the cost of construction.
  • The mortgage interest tax deduction is a tax break that disproportionately benefits wealthy homeowners.
  • FHA loans are only available to low-income borrowers, which can make it harder for middle-class families to buy a home.
  • GSEs Fannie Mae and Freddie Mac have been criticized for their role in the subprime mortgage crisis.

These policies have made it harder for Americans to buy homes, leading to a decline in homeownership rates and a widening wealth gap.

The Decline In Homeownership Rates

The homeownership rate in the United States has been declining for years. In 1960, 65% of Americans owned their homes. By 2004, that number had fallen to 69%. And by 2016, it had fallen to just 63%.

This decline in homeownership rates is due in part to the government's policies. The government's policies have made it harder for Americans to buy homes, leading to a decline in homeownership rates and a widening wealth gap.

The Widening Wealth Gap

The wealth gap between the rich and the poor has been growing for years. And the decline in homeownership rates is one of the reasons why.

Homeownership is one of the most important ways for families to build wealth. When families own their homes, they have a stake in their community and they are more likely to invest in their homes and neighborhoods.

But the decline in homeownership rates has made it harder for families to build wealth. And this has led to a widening wealth gap between the rich and the poor.

What Can Be Done?

There are a number of things that can be done to address the problem of declining homeownership rates. These include:

  • Reforming zoning laws to make it easier to build new homes.
  • Streamlining building codes to reduce the cost of construction.
  • Expanding access to FHA loans to middle-class families.
  • Reforming GSEs Fannie Mae and Freddie Mac to make them more accountable to taxpayers.

These reforms would help to make it easier for Americans to buy homes, which would lead to an increase in homeownership rates and a narrower wealth gap.

Another Big Lie: How the Government Stole Billions From The American Dream Of Home Ownership And Got Caught
Another Big Lie: How the Government Stole Billions From The American Dream Of Home Ownership. And Got Caught!

4.6 out of 5

Language : English
File size : 1288 KB
Text-to-Speech : Enabled
Screen Reader : Supported
Enhanced typesetting : Enabled
Word Wise : Enabled
Print length : 276 pages
Create an account to read the full story.
The author made this story available to Deedee Book members only.
If you鈥檙e new to Deedee Book, create a new account to read this story on us.
Already have an account? Sign in
1.3k View Claps
75 Respond
Save
Listen
Share

Light bulbAdvertise smarter! Our strategic ad space ensures maximum exposure. Reserve your spot today!

Good Author
  • Kenneth Parker profile picture
    Kenneth Parker
    Follow 16.5k
  • Jules Verne profile picture
    Jules Verne
    Follow 11.2k
  • Harry Cook profile picture
    Harry Cook
    Follow 7.8k
  • Ralph Waldo Emerson profile picture
    Ralph Waldo Emerson
    Follow 8.5k
  • Robert Frost profile picture
    Robert Frost
    Follow 8.2k
  • Charlie Scott profile picture
    Charlie Scott
    Follow 8.1k
  • Stanley Bell profile picture
    Stanley Bell
    Follow 12.8k
  • Gil Turner profile picture
    Gil Turner
    Follow 18.5k
Recommended from Deedee Book
Shifting: The Double Lives Of Black Women In America
Ken Follett profile pictureKen Follett
5 min read
394 View Claps
35 Respond
Banging My Billionaire Boss 2 Mesha Mesh
Cade Simmons profile pictureCade Simmons
6 min read
1k View Claps
96 Respond
The Two Reconstructions: The Struggle For Black Enfranchisement (American Politics And Political Economy Series)
Brent Foster profile pictureBrent Foster
5 min read
694 View Claps
84 Respond
When A Savage Needs Love: His BBW Obsession
Henry Green profile pictureHenry Green

When Savage Needs Love: His BBW Obsession

When Savage Needs Love is a 2019 romantic...

4 min read
1k View Claps
53 Respond
Dirty Painted Panties Martine Reid
Duncan Cox profile pictureDuncan Cox
6 min read
600 View Claps
66 Respond
Black Women And Public Health: Strategies To Name Locate And Change Systems Of Power (SUNY In Black Women S Wellness)
Alexandre Dumas profile pictureAlexandre Dumas
5 min read
681 View Claps
75 Respond
The book was found!
Another Big Lie: How the Government Stole Billions From The American Dream Of Home Ownership And Got Caught
Another Big Lie: How the Government Stole Billions From The American Dream Of Home Ownership. And Got Caught!

4.6 out of 5

Language : English
File size : 1288 KB
Text-to-Speech : Enabled
Screen Reader : Supported
Enhanced typesetting : Enabled
Word Wise : Enabled
Print length : 276 pages
Sign up for our newsletter and stay up to date!

By subscribing to our newsletter, you'll receive valuable content straight to your inbox, including informative articles, helpful tips, product launches, and exciting promotions.

By subscribing, you agree with our Privacy Policy.


2024 Deedee Book鈩 is a registered trademark. All Rights Reserved.