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Examining the housing market’s dependence on government financing
As a reverse mortgage professional have you ever pondered the forces behind our housing market? What makes the lending world keep running? What natural or artificial forces are at play that influence home prices and affordability? Mortgage Banker’s Association President & CEO and former FHA Commissioner David Stevens opined that the real estate finance is stuck in the same ‘sick system’ as it was prior to the 2008 housing collapse. Such a comment should raise the question, is our economic and housing recovery the result of natural market forces or artificial government intervention? First is the question of the role that government sponsored enterprises Fannie Mae and Freddie Mac play. “It is four years later and the government isn’t still just the backbone, but has become the entire central nevus system of the…
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