From a blog on title insurance.
Immediately after hearing the testimony, the American Land Title Association reached out to Financial Services Committee staff to correct the record and to serve as a resource to the Committee. During that conversation, staff confided that they “do not anticipate the Committee pursuing it any further…I really don’t see any momentum here on going deeper than Dr. Kling’s suggestion.”
Shock me, shock me.
These special interests have inadvertently harmed their own communities and regions, in their stubborn desire to keep things just the same. Not only have they damaged the flexible aspects of housing which gave economies such momentum, they refuse to consider more inclusive and innovative forms of building construction that could provide stability for the long run. What’s more, such strategies make it impossible for even the powerful families to take care of their extended own…the ones they were trying to protect in the first place.
Rent Seekers – 1
Our Technocratic Host – 0
It was never likely that title reform was going to happen due to Kling testifying. It’s still probably good that he went, if only to be a candle in the darkness. Though it’s likely that people like him can curb some of the most outrageous excesses of the political system.
“to correct the record” ???
Is that code for deleting Kling’s suggestion from the record?
Is there any way to aggregate and measure this rent-seeking cancer overall to put any timing on the prognosis? Mancur Olson claimed these are irreversible, but being off in your timing by 50 years is the same as being wrong.