In the 2000s, America tried to use a debt-fueled real-estate boom as a substitute for real wealth creation. The Fed’s loose money, government endorsement of private credit-ratings agencies and reckless promotion of homeownership created a housing bubble. The bursting of this bubble created a financial crisis. We do not want to repeat the experience, writes The Wall Street Journal.

Most Popular Articles

Sales of new houses will rise to a 13-year high in 2020, NAR’s chief economist says

Sales of new homes probably will rise to a 13-year high in 2020 as the U.S. dodges a recession, according to Lawrence Yun, chief economist of the National Association of Realtors.

Nov 08, 2019 By