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    Jeff Meli Deborah Lucas

    Episode 29

    Jeff Meli in conversation with Deborah Lucas.

    Should the US government play such an outsized role in housing finance?

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    The United States is like no other developed country when it comes to government intervention in housing finance.

    Implicit and explicit subsidies, regulations and tax breaks comprise the complex housing finance system at work in the US today, with government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac playing a central role. After being placed under conservatorship by the federal government in 2008, the debate about mission of the GSEs continues, as well as whether they should be private, public or exist at all.

    In this episode of the Flip Side, Barclays Head of Research Jeff Meli is joined by Dr. Deborah Lucas, Sloan Distinguished Professor of Finance at the MIT Sloan School of Management and Director of the MIT Golub Center for Finance and Policy, to discuss what role, if any, the GSEs should play in the future of the US housing finance market.

    Further reading

    For more information on this topic, download a copy of our eighth Impact Series report:

    Authorised clients of Barclays Investment Bank can log in to access related reports on Barclays Live:

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    Related content

    Research

    A small American flag on a white picket fence

    Impact Series

    A growing divide: How income inequality affects US homeownership rates

    Rising US income inequality is strongly associated with lower homeownership rates, disproportionately affecting Black residents. What should policymakers consider during the housing finance reform process?

    Keys in the lock of a house's front door

    Infographic

    Quick take: Income inequality and homeownership

    The US government’s outsized role in housing finance yields comparable homeownership rates to developed economies. As income inequality rises, what should the government's role be?

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    About the experts

    Jeff Meli is Head of Research within the Investment Bank at Barclays. Jeff joined Barclays in 2005 as Head of US Credit Strategy Research. He later became Head of Credit Research. He was most recently Co-Head of FICC Research and Co-Head of Research before being named Head of Research globally. Previously, he worked at Deutsche Bank and JP Morgan, with a focus on structured credit. Jeff has a PhD in Finance from the University of Chicago and an AB in Mathematics from Princeton.

    Deborah Lucas is the Sloan Distinguished Professor of Finance at the MIT Sloan School of Management and Director of the MIT Golub Center for Finance and Policy. Her current research focuses on developing and applying financial economics to evaluate the costs and risks of governments’ financial activities. She is also widely published in the fields of asset pricing and corporate finance. Deborah received her BA, MA, and a PhD in economics from the University of Chicago.

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