The American Recovery and Reinvestment Act authorizes an additional $1.9 billion for neighborhood stabilization. Thus, taxpayers foot the bill for programs to clean up after the government-caused h...
The Housing and Economic Recovery Act creates an independent regulator -- the Federal Housing Finance Agency -- to oversee Fannie Mae and Freddie Mac. FHFA places the financially beleaguered entiti...
Years of special interest-driven policies to subsidize home ownership backfire in a profound way as the American housing bubble bursts, which eventually drags down major financial institutions and ...
In response to HUD political pressure, Fannie Mae and Freddie Mac ease credit standards to facilitate more lending to low-income and more risky borrowers. A New York Times story presciently warns t...
The Quality Housing and Work Responsibility Act consolidates the Section 8 voucher and certificate programs.
Congress creates empowerment zones to stimulate development in distressed areas through tax incentives and direct funding. An audit suggests that political manipulation helps determine which cities...
The National Affordable Housing Act creates the HOME Investment Partnership Program. HOME grants are used by state and local governments to develop "affordable" housing, but official audits provide...
The Low Income Housing Tax Credit is created to spur the construction and rehabilitation of low-income housing. The program acts as a subsidy for developers because they pocket the $5 billion or so...
The Housing and Urban-Rural Recovery Act creates the Section 8 voucher program, which provides tenants with rental subsidies that are more flexible and portable than the original Section 8 certific...
Urban Development Action Grants are created to revitalize distressed neighborhoods through the encouragement of private sector investment. UDAGs are often politically awarded and they encourage cor...
The Housing and Community Development Act consolidates various HUD grant programs for local governments into the Community Development Block Grant program. The program becomes notorious for its was...
Considered an "architectural masterpiece" when it was built in St. Louis in the 1950s, the federally funded Pruitt-Igoe public housing project is demolished after vandalism and crime render it unin...
The Emergency Home Finance Act creates a second housing GSE, the Federal Home Loan Mortgage Corporation (Freddie Mac), which is designed to compete with Fannie Mae in the secondary mortgage market.
The Brooke Amendment limits the rent paid by public housing tenants to a certain percentage of their incomes. The limit is set initially at 25 percent and later raised to 30 percent. One effect of ...
The Housing and Urban Development Act creates a homeownership subsidy program (Section 235) intended to spur low-income homeownership through private housing construction and rehabilitation. The pr...
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