What’s the next President going to do with our $188 billion tax-payer rescue of Fannie Mae and Freddie Mac?
The two government sponsored entities have been in a holding pattern since they were placed into a government conservatorship in September of 2008. This means it will be nearly 5 years of treading water. What does this mean to you? How’s your business? The campaigns are both asking: Are you better off today than you were in 2008?
The consensus among Democrats and Republicans is that Fannie and Freddie represent a failed experiment in state-sponsored mortgage lending.
Sure, a lot of taxes have been spent, but where’s the leadership? Until the housing market returns, can the economy?
Could newfound complacency mean the next man who resides in the White House feel less urgency about finding a new solution?
As professionals in the real estate business, how are you letting local, state and federal officials know that it is essential for the next President to take a strong stand on Fannie and Freddie?
The two Presidential candidates seem too quiet about how to revive a slumping housing market. But mark our words, Freddie and Fannie will be the making or undoing of the next President.
Please weigh in; your voice counts and will be heard.