Saturday, September 18, 2010

HOUSING MARKET as Investment: Wrestling with Fannie and Freddie

 Sep 17th 2010 @ 11:15AM

Homeownership Declines in Popularity as Safe Investment

The mood of homeowners has not improved much since the beginning of the year. In fact, it's gotten a little darker. Respondents to a new surveyconducted by Fannie Mae shows that 67 percent of respondents consider owning a home a safe investment.

That's a decline of 3 percentage points from the beginning of 2010, when 70 percent felt good about owning a home. In 2003, 83 percent of respondents said that they felt that putting money into a house was a good investment.

"Homeowners and renters alike continue to be wary of taking on risk, and they are less confident in the long-term 
outlook for housing," said Doug Duncan, VP and chief economist for Fannie Mae.

There was some good news in the Fannie Mae National Housing Survey" >>>> keep reading by clicking title link above

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By Joseph Picard | September 17, 2010 4:07 PM EDT 

Lawmakers wrestle with Fannie and Freddie - International Business Times:
"Fannie Mae and Freddie Mac, that pair of quasi-governmental mortgage companies often blamed for the housing crisis and subsequent financial meltdown, are prime targets for reform by the Obama administration. But what form will reform take?

Former President and CEO of Fannie Mae Daniel Mudd is sworn in before the Financial Crisis Inquiry Commission hearing on Capitol Hill in Washington, April 9, 2010.

Just as importantly, how will the administration and Congress rid the troubled mortgage giants of the enormous debt they have incurred -- that is, short of lowering it on the backs of American taxpayers?

'Fixing our nation's housing finance system is critically important to our economy and to our country's future,' said Michael Barr, assistant secretary for Financial Institutions at the U.S. Treasury Department.

'A new system must be designed to ensure that our housing finance system is more stable, consumers are protected,"

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