I’m a huge fan of Kirk, but I don’t know his plan for solving the housing crisis. Whatever his plan, I hope it’s not a lending system based on equality goals like it was back in 2008. Lending to unqualified borrowers looked good in the short run, but eventually saw the pyramid of unqualified loans crumble into a real estate crash that sent shock waves through the entire financial system. Learn from your mistakes, people, or be bound to repeat them.
People should be expected to pay more to live in NYC. You shouldn't live there unless you can afford it.
Otherwise, move to Iowa, Nebraska or Oklahoma.
But it's kind of boring to live in those places. You're not going to be able to go to Broadway once you leave NYC.
Many of our ancestors passed through Ellis Island, they did not stay there due to overcrowding and cost.
That’s the fable. That the low credit score people tricked the bankers and got loans they couldn’t pay.
The reality is that the financial industry fraudulently sold high risk loans to investors as grade A paper. They knew it was fraud because they took out insurance polices against their own product.
Government had a role, but the bankers had a giant role as well.