“Kinda like its not news that Clinton basically started the home ownership policies that Bush continued. Can’t stand Bush since 2009.”
I don’t remember Clinton having a minority home ownership policy like Bush. Clinton’s contribution to what would become the housing bubble was a new tax policy that exempted $250,000 of real estate profit. So money that naturally would have been invested elsewhere headed for real estate.
Combine that with Congress erasing the last vestiges of the 1933 Glass-Steagall Act regulating banking, and you had a simmering fire for the genius Bush to throw gasoline on. Which of course he did. He wasn’t the only fool who stoked the bubble but he certainly added to it.
I didn’t know about it either until someone posted a YouTube clip of Andrew Cuomo giving a press conference in the 90s about it.
I’m pretty sure this is why housing started to become cheap quality and built on small lots, loose loans etc etc.
https://www.globalurban.org/National_Homeownership_Strategy.pdf