Part 3: Will government ever get its act together on housing?

The hous­ing indus­try is suf­fer­ing, in part because the struc­ture of our nation’s finan­cial mar­kets does not allow us to escape from past mis­takes. To a sig­nif­i­cant degree, this inabil­ity to break with the past can be directly blamed on a fed­eral gov­ern­ment that clings to its own inept­ness and forces the mar­ket­place to adjust for the mis­man­age­ment of the two GSEs, Fan­nie Mae and Fred­die Mac.