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Replies (4)
- Wes Black
- Contributions:509
This document would be interesting reading.
- Tug of War
- Contributions:1947
I agree
- Dan, "the_country_hick"
- Contributions:4694
I would like to see the white paper when they talked about the tech stock bubble bursting and why it was important to the economy. Either way it is a bubble that needs to correct.
Very bad idea. the government entering the land lording business en masse? sure. It takes hard work, local market knowledge, and dilligent response to tenants to survive as a landlord, I'm sure Fannie Mae and Freddie Mac will do that in spades! Especially given how well they've handled their much easier mortgage business!
Fed White Paper:The U.S. Housing Market: Current Conditions and Policy Considerations
"The ongoing problems in the U.S. housing market continue to impede the economic recovery. House prices have fallen an average of about 33 percent from their 2006 peak, resulting in about $7 trillion in household wealth losses and an associated ratcheting down of aggregate consumption. At the same time, an unprecedented number of households have lost, or are on the verge of losing, their homes. The extraordinary problems plaguing the housing market reflect in part the effect of weak demand due to high unemployment and heightened uncertainty. But the problems also reflect three key forces originating from within the housing market itself: a persistent excess supply of vacant homes on the market, many of which stem from foreclosures; a marked and potentially long-term downshift in the supply of mortgage credit; and the costs that an often unwieldy and inefficient foreclosure process imposes on homeowners, lenders, and communities."
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