Monday, February 14, 2011
Patrick Duffy at Housing Chronicles weighs in on Fannie and Freddie
I asked my friend Patrick Duffy, of Housing Chronicles, to weigh in on the possible disappearance of Fannie/Freddie, and here's what he wrote:
I think it's mostly about political posturing; Obama is trying to address it before Boehner and Co. can claim he has no plans to end it.
At the moment, there's simply no private market for residential mortgages, so unless the gov't wants to tank the housing market they'll have to at the very least test the waters very slowly.
Lou Barnes addressed this issue in his latest column (Inman News).
Patrick S. Duffy
MetroIntelligence Real Estate Advisors
Contributing Editor, Builder & Developer
Author, The Housing Chronicles Blog
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