Trump has announced a new plan to radically change residential housing market in the US to benefit investors at the expense of home buyers. At the core of his plan is the privatization of the quasi-public housing finance institutions, Fannie Mae and Freddie Mac. Both originated as government agencies to ensure lower cost 30 yr. mortgages. Now Trump wants to sell them off to hedge funds and other investors. They’ll issue new IPOs and reap hundreds of billions of speculative profits. Then they’ll continue to acquire the billions in operating profits from them for years to come, instead of the profits now going to the federal government to help offset US budget deficits and $1 trillion plus annual additions to the US national debt.
Listen to my 12 minute Loud & Clear radio show interview on the topic below
GO TO:
Leave a Reply