Behind the housing boom and bust was one of those alluring but undefined phrases that are so popular in politics-- "affordable housing." In looking back over my own life, I find it hard to think of a time when I didn't live in affordable housing. While the specifics will differ from person to person, my general pattern was not unusual. Most people pay for what they can afford at the time.
What, then, is the "problem" that politicians claim to be solving when they talk about creating "affordable housing"? The ultimate irony is that increasing government intervention in the housing market over the years has generally made housing less affordable than before, by any standard.
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