In this conversation, David Brickman, former CEO of Freddie Mac, discusses the complexities of the housing crisis, focusing on the roles of government-sponsored enterprises (GSEs) and the impact of policy on housing affordability. He explains the hybrid nature of GSEs, their evolution since the financial crisis, and the ongoing debate about their privatization. Brickman also addresses the implications of tariffs on construction costs and presents various policy proposals aimed at increasing housing supply and affordability.Key TakeawaysThe housing crisis encompasses more than just affordability.GSEs play a crucial role in providing liquidity and stability to the housing market.Government involvement is necessary to ensure affordable housing.The GSE model has evolved but still operates under government control.Market share pursuit led to vulnerabilities in the housing system.Privatization of GSEs raises concerns about public risk and private gain.Tariffs on construction materials could worsen housing supply issues.Addressing housing affordability requires a multifaceted approach.State and local reforms are essential for increasing housing supply.Innovations like the K Deal program help manage credit risk in multifamily financing.Link to David's Policy Proposal - https://www.urban.org/sites/default/files/2023-08/Addressing%20Rental%20Affordability%20by%20Increasing%20Multifamily%20Housing%20Supply.pdf

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