3% Down Payments: The Government Wants Another Housing Bubble

The Tea Party Economist reports:

This policy of low down payments led to a disaster in 2008. But that does not faze Congress. Bubbles are popular. They always pop. Then politicians pass laws that start the process over again. “This will not create a new bubble. Trust us.” Americans trusted them before. They trusted Greenspan, who said it was not a bubble. They will trust Congress again.