Tiered Real Estate Blog » government takeover http://tieredrealestate.com/blog Reality in Realty Fri, 28 May 2010 16:42:35 +0000 en hourly 1 http://wordpress.org/?v=3.0.1 Welcome to Socialism! http://tieredrealestate.com/blog/2008/09/welcome-to-socialism/ http://tieredrealestate.com/blog/2008/09/welcome-to-socialism/#comments Sun, 07 Sep 2008 16:03:00 +0000 tieredre http://tieredrealestate.com/blog/?p=13 Effective this morning (Sunday, September 7th, 2008) we now live in a Socialist country. Our government owns over 50% of all the homes in the United States. This is a result of the government’s takeover of Fannie Mae & Freddie Mac who backed over $5 TRILLION in mortgages (more than 50% of the total in the US). This US takeover is only supposed to last until the end of 2009, if the two giants can get their acts together and the housing industry can rebound. As American citizens, it is crucial that we make certain that the givernment relinquishes their hold on the housing market in a year and a half. Otherwise, we don’t live in the same America of our forefathers.

I hope that we (i.e. the industry, the government) learn from this mistake and prevent the bubble bursting that we have watched for the last couple of years and next time work on an ounce of prevention and hopefully pass on the pound of cure.

Have a blessed week!

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