Opinion: How the Fed’s 2008 Mortgage Experiment Fueled Today’s Housing Crisis
The Hill, Mar. 10, 2023–Paul H. Kupiec, Alex J. Pollock
The authors assert the Fed’s decision to invest trillions of dollars in MBS has helped to push the cost of home ownership beyond the reach of many. Others will find themselves locked into homes they cannot afford to sell because of the artificially low rates on their current mortgages.