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Fannie and Freddie Takeover Explained, Posted by Dick

It’s been a while since I have posted to the "Voices" blog. As my year draws to a close, things have been busier than ever.

I know many of you are wondering why the federal government decided to take control of Fannie Mae and Freddie Mac and what this move means for the housing market and for REALTORS®. The best explanation I have seen is the one offered by our very own Chief Economist, Lawrence Yun, in one of his his regular commentaries. In fact, it was so good that The Hill Newspaper (where Congress goes to share news and views) ran it on their blog.

http://blog.thehill.com/2008/09/09/federal-govt-had-no-choice-in-fannie-freddie-situation/

Please take a few minutes to read what Lawrence has to say, and pass it along to your colleagues and clients.

No doubt, reforming Fannie Mae and Freddie Mac will be a top priority for the new Congress and Administration. You can be sure that NAR will be there every step of the way to ensure their vital mission remains intact, and homeownership continues to thrive in America. – Dick Gaylord, 2008 NAR President

Comments

It was most interesting to note dick gaylord's take on how the incoming obama team was set to address the Fannie and Freddie situation.When the Senate was in the process on investigating what was happening with the operation guess who the two Senators who put the brakes on the review?Senator obama and Dodd.I am one Realtor(30 years in the business)who is very leary on the Obama camp doing an impartial approach with Fannie and Freddie.Of course,the former head of Fannie was an intrical cog on the elect Obama team.A little bit of irony here!!I am going to pray that our housing market gets better in a good way-not with this crazy bailout that will reward CEOs for running their companies in the ground.God help us all.Resectfully submitted-Bill Millard(ID#00706615)

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The Voices of Real Estate blog will keep REALTORS®, REALTOR® association executives, real estate brokers, and others informed about NAR’s priorities and activities.

As the nation’s largest trade association, representing its 1.3 million members, the National Association of REALTORS® is the collective force influencing and shaping the real estate industry, and is the leading advocate of the right to own, use, and transfer real property.


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