President Barack Obama Message Board

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Politics : President Barack Obama

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To: John Vosilla who wrote (128896)	12/17/2012 9:31:04 PM
From: RetiredNow	Read Replies (2) of 149317

Well, housing is an imperfect market marked by illiquidity and driven by public policy more than by free markets. Truth be told is that if the gov't didn't subsidize housing to the extent it does, we'd have much much lower prices still. Housing is the classic case of malinvestment built on more massive malinvestment. We'd all be better off without the government choosing the winners and loser and letting the free markets sort out these things. Why do we want our government deciding that housing and oil companies should get giant subsidies, rather than capital being allocated to technology companies and renewable energy? I'm sorry, but there are very few cases where I think it's a great idea for the government to distort markets to the extent they've done so with housing.

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