Law Commons^™

Above All Else Stop Digging: Local Government Law As A (Partial) Cause Of (And Solution To) The Current Housing Crisis, Darien Shanske

University of Michigan Journal of Law Reform

So many things have gone wrong with our housing market that it is hard to know where to start. One simple diagnosis is that we invested too much in houses that were not worth as much as we thought. Looked at in this way, it is relatively easy to see how innovations like interest-only loans contributed to an over-valuation of housing. Certain actions of the federal government were and are also clearly problematic, such as the longstanding tax breaks for home ownership.

This Article looks at state and local government law, and particularly at financing mechanisms created by state law …

Priorities: Ii, Edgar N. Durfee

Michigan Law Review

This is the second part of "Priorities" (also known as "Little Nemo") which was taken from Professor Durfee's teaching materials. The first part was published in the February issue-which was dedicated to the memory of Professor Durfee.

Priorities, Edgar N. Durfee

Michigan Law Review

Among those of Edgar Durfee's colleagues who were familiar with this paper it came to be known as "Little Nemo," for a reason that will become apparent to the reader. It is taken from his mimeographed Cases on Security, third edition, published in 1938. Possibly it was published earlier but there is a gap in the evidence. It did not appear in the first edition published in 1934 but no copy of the second edition has been located. In a few places its age shows, for example in the reference to Walsh as the author of the most recent …