The stock market is in turmoil this week, and it’s doubtful that the news of Fannie Mae and Freddie Mac doubling down on the disastrous “affordable housing” policies that led to the last financial crisis is going to help. Here we go again:
6 Comments on Fannie And Freddie Double Down On ‘Affordable Housing’
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It’s unbelievable-you have to believe that our government isn’t just stupid or incompetent.
They’re malevolent. It must be intentional. The proof that these sub prime loans are destructive and inflated a huge housing/real estate bubble is only 8 years old!
They’re making these 0%, 7 year auto loans that are going into default in huge numbers.
They must know that making loans to people that can’t pay them, for whatever reason other then pointless consumption, will only make things even worse then they are.
I guess when you’re printing TRILLIONS in fairy dust money, ya gotta do something with it.
It’s deja vu all over again.
HUD must be eliminated!
Can we make a distinction between rural housing and urban housing this time around? Hey, I agree that a 500 sq. foot apartment in NY at $2 million is too damn expensive. It doesn’t mean my 3000 sq. foot house in BFE needs to go from $400k to $200k just so a welfare baby can live beyond their means in that NY apartment.
BFE must be in flyover country which means I spend a lot of my time driving thru BFE when I’m working. If you’ve ever been to the Columbia Basin where it’s not irrigated in Central Wash. state like around Ritzville, Moses Lake, Ephrata, Soap Lake, Othello and down around Hanford just outside of the Tri cities you’ve been to BFE. Anywhere the elites don’t live is BFE to them. Me I prefer BFE, also called Podunk, Bumbleeburg, Bumblef**k etc. Heck even Jesus was from BFE, Nazareth was probably considered BFE by the Romans and religious Jews like the Pharisees at the time.
And Padukah, Kentucky where my Son in law Will is from. My Father in law was also from Kentucky, he stayed out here after the Korean War when he was stationed at Fairchild AFB just outside of Spokane where he met my Mother in law. BFE places all, heck I’m proud to be a Warshingtonian from out in the sticks, yee haw! And I’m almost a native Idahoan, Idaho, Montana, N & S Dakota, Wyoming etc. all qualify for BFE status.