Building a mortgage meltdown for the rental market

Categorized | STOP FORECLOSURE FRAUD

Building a mortgage meltdown for the rental market

Building a mortgage meltdown for the rental market

NY POST-

Is the private sector allowed to do anything anymore? For nearly 80 years, Washington has subsidized homeownership — creating massive distortions both in house prices and in what neighborhoods look like. Now the feds will subsidize rental homes as well — expanding government control over even more of the economy.

The American home-buying world doesn’t even resemble a free market. Americans owe $10.3 trillion on mortgages. Fannie Mae and Freddie Mac, the government-guaranteed mortgage giants, hold $5 trillion of that debt. The Federal Reserve holds another $1.8 trillion. Smaller government entities like the Federal Housing Administration and Federal Home Loan Banks round out the government sector.

Government guarantees and direct lending keep mortgage rates low. They also keep home prices high, because the cheaper you can borrow, the more you can pay for a house. They discriminate against cities, where most people rent, not buy.

© 2010-17 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



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