Mikeoxenormous
Diamond Member
A little history on what Marxists/Demofascists do to the housing market.
Here's what really caused the housing crisis
Now what is coming down from our illustrious government.
MSN
Here's what really caused the housing crisis
“Under Clinton’s Housing and Urban Development (HUD) secretary, Andrew Cuomo, Community Reinvestment Act regulators gave banks higher ratings for home loans made in ‘credit-deprived’ areas. Banks were effectively rewarded for throwing out sound underwriting standards and writing loans to those who were at high risk of defaulting.
What’s more, in the Clinton push to issue home loans to lower income borrowers, Fannie Mae and Freddie Mac made a common practice to virtually end credit documentation, low credit scores were disregarded, and income and job history was also thrown aside. The phrase “subprime” became commonplace. What an understatement. … Tragically, when prices fell, lower-income folks who really could not afford these mortgages under normal credit standards, suffered massive foreclosures and personal bankruptcies.”
Now what is coming down from our illustrious government.
MSN
Any time the government gets involved other than in wars and our border(which is failing at both of those) there is no way the government should get involved in housing. Just like when Obama got involved with college tuition, that drove up the price of higher education through the roof, you can bet the prices of housing with either come crashing down hard(like under the Andrew Cujo plan) or drive the prices even higher. Ronald Reagan said it best.A bill being introduced to Congress will prohibit hedge funds and other institutional investors from buying single-family homes.
The bill comes as housing supply continues to dry up in the U.S. with prices climbing 20 percent since 2021. Low housing supply is driving up prices, and hedge funds are partly to blame for that, according to the bill's sponsors, U.S. Senator Jeff Merkley (D-OR) and Representative Adam Smith (D-WA).