Wednesday, 11 January 2017

US Housing Crisis

There has been a load of nonsense in certain 'conservative 'groups trying to attempt to pin the blame on the housing crisis on the US government principally the CRA. This bit of false news is very easily shown to be false.
In recent times  MARK THOMA  and CALCULATED RISK have gone into this.
As usual it is incorrect. I have read papers on this topic from every regional Federal Reserve and at least two from THE Federal Reserve itself which go into quite a lot of detail in investigating this using very sophisticated statistical techniques.
This is a furphy that the 'right' will never let go. It was fake news before fake news. Post truth days are far earlier than most think.