This paper analyzes options for reforming the U.S. housing finance system in view of the failure of Fannie Mae and Freddie Mac as government sponsored enterprises (GSEs). The options considered include GSE reform, a range of possible new governmental mortgage guarantee plans, and greater...

"This paper analyzes options for reforming the U.S. housing finance system in view of the failure of Fannie Mae and Freddie Mac as government sponsored enterprises (GSEs). The options considered include GSE reform, a range of possible new governmental mortgage guarantee plans, and greater...

In many developed countries, the most significant housing subsidy programs are funded by tax expenditures rather than direct appropriations. Beyond the subsidy to homeownership under the personal income tax, the U.S. tax code provides additional subsidies to specific groups of homeowners. For...