A product of the administration's drive to expand homeownership to underserved communities. Seems pretty heavy-handed to me with this notion that you need to penalize one group to raise up another. I worked at Fannie Mae for a few years (during which happened to be under the previous administration) and the efforts to expand homeownership seemed much more tactful and balanced. Hopefully will revert back to a more targeted and nuanced approach with future administrations.
@Michael Baum we have to stop penalizing people who do the right thing and rewarding people who don’t. I am all for helping the less fortunate find a path to home ownership, but this is ridiculous.
Many of you are focused on the article source, but if the @Afoma Okwudiafor comments are true with the before and after from the Fannie Mae website this turns into a simple supply and demand market. If the government is incentivizing demand growth what is the result? Higher prices. Why? Because with increased demand and the same supply, upward pressure is put on equilibrium, or price.
I am certain there are others on here who are seeing two markets, one above the median and one below. Below the median, it is on fire. Why? Because we cannot provide enough housing below the median in most markets. If this is happening, is it wise to increase demand on an already thin supply?
Isn't the solution to increase from the supply side? Increase the supply of homes on the market? Maybe reduce red-tape and lower taxes for small investors, say those with 1-6 units to rehab existing properties to get them on the market. By getting more supply, it will keep prices lower and there are several homes in each town that need some rehab.
@Michael Baum Do you think anyone is going to WAKE UP now?
Redistribution of wealth is HERE, most are just sleeping through it chugging the kool-aid shovel feed to them.
It's CONSISTENT in the messaging from ACTIONS; how-dare-you-work! How-dare-you-invest-in-self! The ONLY acceptable action is drink DRINK from that Federal boob, and if you don't your gonna get beat down until you MUST!
Those who feed from it like good little sheeple, will reap YOUR rewards.
Welcome to the NEW America, the "inclusive" "tolerant" America. Do as your told OR ELSE! You can do anything you want, as long as it's what your told to do!
No @James Hamling, I don't think people will really go against it. We are more about feelings and emotion and not facts like math. I am hoping there will be some kind of lawsuit against it but who knows.
I am going to start looking for portfolio loans that bypass the feds if I can.
This is a group where politics has no place. I seen this circulating for the past few days through right wing sources only. Some of those sources have a brazen history of fabrication, feckless interpretation or erratic conspiracy theories. In many instances the originators are confident they will be believed and it will be circulated for free no matter what it is. For me to give this further thought I would need to hear it from other sources.