I have a new article up at Liberal Currents. Here’s how it starts: The policy vicious cycle began in the early twentieth century when major American cities started to experiment with local zoning ordinances. The vicious cycle was codified in the 1926 Supreme Court decision,
You stated, "Between 2007 and 2009, lending to the bottom half of the American housing market imploded and never returned. The federal agencies abandoned their existing customer base and regulators forced even stricter standards on banks."
I used GPT-4 to try to pin down exactly what regulatory changes took place in these years, since they predate Dodd-Frank. Is your take is that the 2006 Interagency Guidance on Nontraditional Mortgage Product Risks and the 2007 Statement on Subprime Mortgage Lending--as well as the Federal Reserve's modifications to Regulation Z first announced in 2007 and implemented in 2008-2009--are basically under-discussed here? What other specific regulatory changes are you considering?
You stated, "Between 2007 and 2009, lending to the bottom half of the American housing market imploded and never returned. The federal agencies abandoned their existing customer base and regulators forced even stricter standards on banks."
I used GPT-4 to try to pin down exactly what regulatory changes took place in these years, since they predate Dodd-Frank. Is your take is that the 2006 Interagency Guidance on Nontraditional Mortgage Product Risks and the 2007 Statement on Subprime Mortgage Lending--as well as the Federal Reserve's modifications to Regulation Z first announced in 2007 and implemented in 2008-2009--are basically under-discussed here? What other specific regulatory changes are you considering?