Worried about government run health insurance? Maybe you should be more concerned about the government run housing market!
For those of you who have lost track of where all our taxpayer dollars have gone as we bailout banks, brokerage houses, car companies, insurance companies…etc—-this sobering statistic courtesy of the New York Times may be a needed splash of chilled water on the face: “The government is financing 9 out of 10 new mortgages in the United States.”
That bears repeating……”The government (as in U.S.) is financing 9 out of 10 new mortgages in the United States.”
According to the Times account, ” Fannie (Mae) and Freddie (Mac) now buy or guarantee almost two-thirds of all new mortgages. The Federal Housing Administration guarantees another 25 percent.”
Joshua Dorkin
Charles Feldman
Ted Karsch.
