Owning a home is a big part of the American Dream. Families work and save for years in order to build capital for the down payment on a home where children can be raised in a nurturing environment. Today, however, for too many theInstead, given the size of the federal deficit, each person is burdened with federal debt to the tune of aboutin 40 years. Excess fiscal stimulus and too loose monetary policy have created a housing inflation crisis. And the nation faces a shortage of housing.
The federal government each year transfers a very large amount of money to the states, particularly for Medicaid programs which have no meaningful effects on the health of the public. The federal government should use that leverage to pressure state governments to pass legislation requiring local governments to institute common sense, non-exclusionary zoning policy. Policy should encourage construction of multiple-unit housing, townhouses, for example.