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Published by: api-26177744 on Apr 05, 2010
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So the Fed wants to get out of the Mortgage Business So the Fed is now trying to get out of the

real estate market and mortgage finance market. Does it really think that the train that it had slowed in 2008 has slow to a halt? When it pumped nearly 1.5 trillion dollars for the purchase of Fannie and Freddie, did it think it would have been easy to get out? The answer is no. There is no stability in the housing market. This is the problem with the long term failure of easy money. We have too many homes owned by too many people who cannot afford them in an economy that is too fragile. Instead of taking our lumps quickly and painfully and resetting the marketplace, we are slowly unwinding it.
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We have too many empty homes right now. We have too many people living in homes not paying a mortgage waiting for the foreclosure notice. We have too many foreclosures that are pending because bankers are overwhelmed or want to manage their losses and prolong the agony.

We have no firm footing in real estate folks. How can the Feds bail this early? Extracted from http://therealestatebloggers.com Eddie Edwards is a licensed Real Estate Broker in NY and GA. Licensed Real Estate Educator NYS Bureau of Educational Standards. http://www.eddieedwardsrealestate.com http://www.daesonrealestate.com http://www.eddieedwardsblog.com Twitt with me at http://twitter.com/eddieedwards Face me on face book http://facebook.com/eddieedwards01 Link me at Linked in http://linkedin.com/in/eddieedwards01 Space me at http://myspace.com/eddieedwardsja

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