by qrono
30. June 2010 08:52
For American taxpayers, now on the hook for some $145 billion in housing losses connected to Fannie Mae and Freddie Mac loans, that amount could be just the tip of the iceberg. According to the Congressional Budget Office, the losses could balloon to $400 billion. And if housing prices fall further, the cost to the taxpayer could hit as much as $1 trillion. “Some of us who don’t even own homes are paying to support others and their home ownership, and they ask ‘why?’ said Robert J. Shiller, a Yale University economics professor and co-creator of the S&P/Case-Shiller Home Price Indices. The indices measure the US residential housing market by tracking changes in the value of residential real estate both nationally and in 20 metropolitan regions. Shiller added that the mission of Fannie and Freddie should be severely cut back “so that they’re not helping middle-class homeowners, [but] they’re helping poor people get into the housing market.”
f37b0155-785f-42d7-9b73-094f61d06904|0|.0
Tags:
A Success Website® Solution. ® and © owned by ConsulNet Computing Inc. 1998-2012.(All rights reserved)