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Senate Democrats’ Deficit-Neutral Infrastructure Plan Clarifies the Cost of Tax Cuts

Senate Democrats yesterday unveiled an ambitious $1 trillion infrastructure proposal that would invest in everything from roads and railways to hospitals and high-speed broadband. And in sharp contrast to recent proposals by the Trump administration, this new Democratic proposal includes a plan to fully pay for itself. The proposal calls for repealing three elements of…

Happy Holidays from PPI

It’s been a surreal political year, but PPI has much to celebrate this holiday season. Throughout 2017, we expanded our productive capacity and the scope of our political and media outreach significantly. For example, PPI organized 150 meetings with prominent elected officials; visited 10 state capitals and 10 foreign capitals, published an influential book and…

Sens. Johnson, Crapo On The Right Track to Housing Reform

The housing sector is one of the pillars of the U.S. economy. That’s why we have marveled at the many partisan and radical proposals to reform the federal housing finance system that would have trashed both what’s good and what’s bad with the current system. PPI continues to maintain that any reform proposal must stabilize…

A Housing Reform Test Drive

U.S. housing officials are preparing to reduce the government's abnormally large footprint in mortgage markets, one of the most visible remaining legacies of the subprime lending crisis. It's the right move at the right time. The Wall Street Journal reported Monday that the Federal Housing Finance Authority will order Fannie Mae and Freddie Mac to…

Experts Project Home Values Index to End 2013 with Prices Up by 6.7 Percent

On Thursday, Zillow released its quarterly Home Price Expectations Survey showing forecasters expect the website's Home Value Index to end 2013 with prices up 6.7%. The numbers surveyed from 106 real estate experts across the country (I am a panel member), showed a significant jump from the 5.4% reported by the survey last quarter. While…

More Good News for Housing

As the New York Times reported yesterday, the housing market is recovering, consumer confidence is at a five-year high and the market is in the midst of a strong recovery- The housing market is enjoying sustained momentum alongside record highs in the stock market, and is leading the broader recovery. Fannie Mae and Freddie Mac…

San Bernardino County Strikes Measure to Use Eminent Domain

Earlier today the Joint Power Authority, municipal body constructed by the county of San Bernardino, California voted not to consider using the power of eminent domain to seize residential mortgages held in private label securitizations (PLS). The proposed move, authored by “Mortgage Resolution Partners”, a private firm out of San Francisco, had long been a…

New ‘Ability to Repay’ Rules Highlight Need for Affordable Housing

This week, the Consumer Financial Protection Bureau (CFPB) released long-awaited new mortgage rules aimed at protecting consumers from abusive loans. The new rules, when they take effect next January, will effectively shut down some of the worst practices leading up to the 2007-2008 housing crash: “interest-only” loans, predatory fees, and “teaser rates” that trapped people…

Housing Recovery: Getting Stronger or Weaker?

Recent gains in home prices in the authoritative S&P Case Shiller Index seem to confirm the growing impression that a housing recovery is underway. While the data is clear that home values are indeed rising, it is unclear, as I have pointed out previously, whether the fundamentals behind the rise (record low interest rates, investor…

Housing Summit Wrap Up

America’s stricken housing markets appear to have hit bottom, as home prices rise modestly in many areas across the nation. Now is the time to reduce government’s overwhelming dominance of home lending – Washington guarantees more 90 percent of all new home loans – but don’t expect Congress to decide the fate of mortgage giants…