“Lured to Disaster”

Por Thomas Sowell:

Behind the housing boom and bust was one of those alluring but undefined phrases that are so popular in politics– “affordable housing.” It is hard for me to know specifically what politicians are talking about when they use this phrase. But then politics is about evoking emotions, not examining specifics. (…)
If you think it through, that is a policy for disaster. We cannot all go around buying whatever we want, whether or not we have enough money to afford it, and have somebody else make up the difference. For society as a whole, there is no somebody else. But of course political slogans are not meant to be thought through, are they? They are often an emotional substitute for thinking at all.
(…)
In particular places where government regulations and restrictions have been especially severe, such as coastal California, rents or monthly mortgage payments have averaged as high as 50 percent of the average person’s income.
Most of our problems are not nearly as severe as political “solutions.” In housing, government policies have lured people into situations that were untenable to them and to the country

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