United States Housing Crisis

There is a lot of information on the internet about the current housing crisis. But what I have noticed is that no one has really pinpointed what really caused it. There are many opinions and finger pointing. What is clear is that the housing crisis is a leading cause in the current recession. I did find out that the national median home price fell a record 13.8% during the first quarter of 2009. I have read an article by John Hale, a person who has been in the real estate business for almost 50 years. He said that the housing crisis was caused by over-regualtion. This inflated housing prices which caused the market to collapse. I have also read a some articles and they all have the same 2 words in them: Smart Growth. I will try to research Smart Growth a little more and will make another blog about it soon. I found it interesting that they all touch on that subject and the National Housing Act of 1954. This housing crisis is what caused Fannie May and Freddic Mac to go under too. I want to also find more about the solutions becuase they will hopefully point out the causes. In general it seems to be unclear really what happened and unclear about the real way to fix it.

Works Cited: Hale Housing Crisis Web Page by John Hale (http://halehousingcrisis.com)