Wednesday, June 24, 2009

Fannie, Freddie asked to relax condo loan rules: report

this is how dems destroyed our economy last time..
Are they really this stupid?
Is this just in their nature...actually I think so.


Jim said...

Well yours is certainly a knee-jerk reaction. I don't see anything in the article that refers to anything about credit worthiness. It's about an adjustment in the ownership threshold of new condo developments. As someone who was in the same boat a few years back, I can see the need for flexibility. When you have a new development where prospective new owners can't get loans because not enough people have gotten loans because not enough people have gotten loans, you have a vicious cycle where the building just sits and goes nowhere.

But far be it for you to think that an adjustment from 70% to say 50% ownership might help prospective homeowners and investors to better themselves and their futures. But then I guess only tax cuts allow people to thrive economically, right?