Creating Another Housing Crisis

Public policy makers tend to be oriented toward the short term, taking actions that fit the current polling data rather than maximizing long-term value for society. For that reason, the underlying system defects that created the housing bubble and permitted its uncontrolled collapse are reemerging. What are these defects? Why are they being permitted to take root? How is this likely to play itself out? We'll show you.

In our April 2006 issue, we foresaw the bursting of the housing bubble while many others w.....