report will refer to them as GSEs. There is a third housing GSE, the Federal Home Loan Banks (FHLBanks) that have not created large portfolios and are owned by members, not the public. This report does not discuss the FHLBs; for additional information on them, see ...
As the housing market overheated, the government enforced powerful anti-speculation policies, such as supply expansion and tax reinforcement, in the real estate market. Subsequently, the whole housing market maintained a stable downward trend until 1996, before the outbreak of the foreign exchange ...