Restoring functional underwriting without subprime

This is the shortened "highlights" version of episode 106. You can listen to the full interview here.

Was the housing market really oversupplied in the mid-2000s? Kevin Erdmann says no, and he explains how this misunderstanding is at the root of present-day affordability problems. This is part 8 of our series on misaligned incentives in housing policy.

Show notes:

• Erdmann, K. (2018). Housing Was Undersupplied during the Great Housing Bubble. Mercatus Center.
• Erdmann, K. (2024). Getting Corporate Money Out of Single-Family Homes Won’t Help the Housing Affordability Crisis. Mercatus Center.
• Erdmann Housing Tracker: Mortgages Outstanding by Credit Score
• Erdmann Housing Tracker: Follow-Up: Mortgages by Credit Score
• Erdmann, K. (2021). A Suggested Mortgage Amortization Structure: Fixed Amortization, Adjustable Principal. Mercatus Center.