The federal government spends over $70 billion annually on housing subsidies and programs — yet housing has become less affordable, not more. From FHA loans and GSE guarantees (Fannie Mae, Freddie Mac) that inflate demand without increasing supply, to the mortgage interest deduction that disproportionately benefits high-income homeowners, to Section 8 vouchers and LIHTC tax credits that create bureaucratic complexity without solving root causes — our analysis examines how well-intentioned housing policies produce unintended consequences. Grounded in free-market economics and the work of Friedman, Sowell, and Hayek.
The Impact Fee Trap: How Local Government Levies Are Pricing First-Time Buyers Out of New Homes
The average impact fee hit $16,394 per new home in 2024 — adding nearly $20,000 to the purchase price and pricing out over three million first-time buyers. A free-market analysis of a hidden government housing tax.
The 30-Year Fixed Mortgage: How Government Engineered America's Housing Finance System — and Why It Failed
The 30-year FRM is a New Deal creation, not a market product. Today it backs $13T in debt and inflates the prices it promised to lower. A free-market analysis.
The Property Tax Lock-In: How Assessment Caps Freeze Housing Supply
Prop 13-style assessment caps trap long-term owners in place, freezing supply and pricing out first-time buyers. Free-market analysis of housing's hidden inventory problem.
The Hidden Tax: How Government Regulation Adds $93,870 to Every New Home
Permit fees, energy codes, impact charges, and bureaucratic delay add nearly $94,000 to the price of every new home.
Fannie Mae & Freddie Mac: How Mortgage Guarantees Inflate Home Prices
Fannie and Freddie back 70% of US mortgages. Their guarantees inflate demand, socialize risk, and drive up prices.
The Mortgage Interest Deduction: A $30 Billion Subsidy That Benefits the Wealthy
60%+ of the MID benefits go to households earning $100K+. Research shows it doesn't boost homeownership — it boosts prices.