Think Tank to Support US Backed Mortgages

Can you believe this the US government have failed to stimulate the US housing market so now a think tank enters the arena to resolve the home market crisis

The new player is backed by the Obama Government – oh dear that fills one with confidence NOT!

Here are more details courtesy of Reuters – quote –  The plan from the Center for American Progress will flesh out a blueprint for a revamp of the $11 trillion U.S. mortgage market first unveiled in 2009. It will be published just weeks before the Obama administration is set to release its own proposals.

The left-leaning think tank has advocated for the creation of a replacement structure for Fannie Mae and Freddie Mac, the two mortgage finance giants seized by the Bush administration in 2008.

Fannie Mae and Freddie Mac have received more than $150 billion in taxpayer aid since being taken over by the government. There is widespread agreement their hybrid structure–which allowed shareholders to profit in good times and left the government holding the bag when things went south–is not sustainable.

Here at FHA Rates.Info we like to stand in a neutral position but surely it is going to need more than a think tank to bail out the US Housing Sector

We strongly believe that if politics was completely removed from all areas of the housing market the market would quickly recover as Joe Public and the professionals working in the industry would make that happen – however as we all know the irony is that the government will never stop interfering!

The US workforce is the best in the world and if left alone they will return the USA back to center stage as the Number One Economy in the World!

The complete article here

http://www.reuters.com/article/idUSTRE70P9KX20110126

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