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Freddie, Fannie debt may pose risk to economy

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moh malekpour

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Elite Member
Joined
May 25, 2002
Professional Status
Certified Residential Appraiser
State
California
http://money.cnn.com/2008/02/07/real_estate/raise_GSE_cap_limits/index.htm?postversion=2008020713
The housing slump has compelled the two entities to buy up mortgages on the secondary market that banks are backing away from. But that could end badly, charges one regulator

The increased share of housing debt taken on by Freddie Mac and Fannie Mae during the housing slump has put the two government sponsored enterprises at risk, it was charged Thursday.

The two outfits are "reducing risks in the market, but concentrating mortgage risks on themselves. These risks are beginning to take their toll," said James Lockhart, director of the Office of Federal Housing Enterprise Oversight (OFHEO), which regulates Fannie and Freddie. He was speaking Thursday at a Senate Banking committee on regulatory reform.

Freddie will report its first ever annual loss for 2007 at the end of February, while Fannie, is expected to report its first loss in 22 years for the year.
 

Mary Tiernan

Senior Member
Joined
Dec 16, 2003
Professional Status
Retired Appraiser
State
Michigan
Ya, and the NAR keeps sending me e-mails asking me to press my senator and congressman to have them raise the limits. Oh, sure, let's see what more a mess they can make. . .
 

Restrain

Elite Member
Joined
Jan 22, 2002
Professional Status
Certified General Appraiser
State
Florida
The reason the gov wants to raise the limits is that the funding sources for "jumbo" loans is drying up. Can't get insurance for the bonds, etc. Gotta sell the loans somewhere. Just have to see where the sausage making ends up.
 

Nationwide

Freshman Member
Joined
Feb 5, 2008
Professional Status
General Public
State
California
Real estate remains the best investment, particularly with the buy and hold strategy. It is now on sale across the country. Anyone looking for RE investments for their IRA? I have new multifamily units that cash flow. Duplex & 4-plex units available now. I am also looking for IRA $ (or cash) to fund my investments. Pays between 10% & 18% secured by real estate for anyone interested. :)
 

Marcia Langley

Senior Member
Joined
Aug 26, 2005
Professional Status
Certified Residential Appraiser
State
Missouri
Real estate remains the best investment, particularly with the buy and hold strategy. It is now on sale across the country. Anyone looking for RE investments for their IRA? I have new multifamily units that cash flow. Duplex & 4-plex units available now. I am also looking for IRA $ (or cash) to fund my investments. Pays between 10% & 18% secured by real estate for anyone interested. :)

Nationwide,

Welcome to the forum.

Surely you comprehend that a person who proclaims that now is the time to buy and in the next sentence declares his eagerness to sell will be met with skepticism?
 

Austin

Elite Member
Joined
Jan 16, 2002
Professional Status
Certified General Appraiser
State
Virginia
I think anyone considering investing in residential real estate should give it a second thought. With this congress and a new Democratic administration, remember both candidates are Democrats, you can expect things like rent controls, no rights to evict tenants, more tenant rights etc.

I had a good idea for a newspaper cartoon. The TV program is interrupted for a special news bulletin. An asteroid will crash into the Earth in 36 hours and all life will be destroyed. The National Association of Realtors reports this is a good time to buy. :rof:
 

Mark K

Senior Member
Joined
Jan 27, 2004
Professional Status
Certified Residential Appraiser
State
Indiana
Real estate remains the best investment, particularly with the buy and hold strategy. It is now on sale across the country. Anyone looking for RE investments for their IRA? I have new multifamily units that cash flow. Duplex & 4-plex units available now. I am also looking for IRA $ (or cash) to fund my investments. Pays between 10% & 18% secured by real estate for anyone interested. :)


Where do I get in line to buy the tapes and DVD's for this sure-fire, huge profit, no money down, top secret program?

But seriously...

As soon as I get that $6 Million American Dollars from that nice man in Nigeria, I'll be sure to send you some. I'm sure this money is coming any day now because he already cashed my check for the incidental expenses and transfer fees.
 

Karl

Elite Member
Joined
Jan 15, 2002
Professional Status
Licensed Appraiser
State
Arizona
Real estate remains the best investment, particularly with the buy and hold strategy. It is now on sale across the country. Anyone looking for RE investments for their IRA? I have new multifamily units that cash flow. Duplex & 4-plex units available now. I am also looking for IRA $ (or cash) to fund my investments. Pays between 10% & 18% secured by real estate for anyone interested. :)


I know they are making you so much money you need to sell them to cut your taxes your paying on your income. & where would these great buys be located show the proff I'll buy em sight unseen. Cause Real Estate is the graetest investment know to mankind Erik Estrander gave up acting to become a actor in Real Estate.
 

Nationwide

Freshman Member
Joined
Feb 5, 2008
Professional Status
General Public
State
California
Nationwide,

Welcome to the forum.

Surely you comprehend that a person who proclaims that now is the time to buy and in the next sentence declares his eagerness to sell will be met with skepticism?

Valid Point. I am currently purchasing these as well as other income producing properties for my own portfolio. I am not made of $, therefore, I am unable to buy them all. Since I have already done the due diligence and arranged large discounts with the builders, I surely will not pass up the opportunity to have the builder pay me a marketing fee, rather than their RE agent.

As for the rest of the tough crowd, keep sitting on your hands or investing in the stock market, I'm sure your returns are exemplary! Oh, I have no "secret" formulas to sell, it takes hard work and a lot of research. If that is a secret, than Kudos for me. All wealthy investors already know that investing in RE is a must for their portfolios. Convincing you sceptics who listen to the "National RE Market" on TV is not on my agenda. Keep waiting to invest in RE, I prefer to invest in RE and wait.
 

Mr Rex

Elite Member
Joined
Jan 12, 2004
Professional Status
Certified Residential Appraiser
State
North Carolina
If I were in Cali, I would wait. I can tell from here that the bottom is still a ways down.:new_smile-l:
 
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