Politicians have applied a fiscal stimulus and, to keep housing finance flowing, relaxed prudential controls on government-sponsored mortgage lenders.

ECONOMIST: America's housing

It is jointly owned by UK property management companies Hermes Property Asset Management and Prudential Property Investment Managers, who were due to finance the project.

BBC: Milton Keynes market traders

However, that goal should be achieved outside of housing finance, through appropriate stabilizing measures by the Federal Reserve and through better prudential regulation, and especially higher capital requirements for large systemic financial institutions.

FORBES: Geithner: End Fannie And Freddie's Pricing Advantage