Housing Policy in the Wake of the Crash

In this article the author examines aspects of U.S. housing policy in the aftermath of the global financial crisis of 2008-09. The author notes that between the years 2000 and 2010 the U.S. housing market underwent extremes of prosperity and financial failure as home prices rose precipitously, and then fell following the financial crisis. A number of topics are addressed including fluctuations in the construction industry, the sharp increase in home prices in Las Vegas, Nevada, and Phoenix, Arizona, and the tax deduction for mortgage interest on homes.