....the ones who broke it, were not the ones trying to fix it.
National Real Estate Investor
magazine discusses Fannie Mae and
Freddie Mac, the two government-
sponsored entities that have pumped
most of the equity into the mortgage
markets in recent history. Because
of some 'miscalculations' on their
part, the Federal Government has had
to invest more that $125,000,000,000
to cover their losses and to keep Fannie and Freddie solvent.
Wonder where that money comes from?
The gist of the article is that NREI believes we are poised
for some serious growth in the multi-family apartment
business. As Fannie, Freddie and friends hold 40% of the
outstanding mortgages on multi-family developments,
and would be expected to keep providing funding at that
level, their health and well being are critically important.
Read the entire article here.
I did learn something new: "the largest generation of
children under the age of twenty will be entering the
housing market in the next few years, according to the
U.S. Census........'we have a huge group of echo-boomers
'Echo boomers'. Wow.