The more expensive housing is, the more politicians can buy votes by offering to make it more affordable (via cheap credit, lower down payment requirements, etc.); same with education. Notice a pattern? Government distortions increase costs of living, and politicians run for government on promises not to remove those distortions, but to add new distortions that will supposedly ameliorate those high costs.
I'm no libertarian, but I'd think libertarians would be on to this by now.
Posted by DaveinHackensack | October 30, 2008 3:24 PM