This Bloomberg article basically said that Fannie & Freddie are deliberately trying to hold up house prices as much as possible, by refusing to drop prices.
Freddie’s houses are taking average 152 days to sell!, and this delay, by their own admission, costs an extra 10% of the value of the house through maintenance, tax, utility, loss of value, etc. But apparently they’re willing to do this to forestall faster price drops and increasing foreclosures.
Fannie & Freddie are taking in foreclosures at twice the rate that they’re selling. What are they waiting for? If not for the federal bail-out through the taxpayers? Surely they don’t think that they will eventually lose less by insisting on the selling prices, surely they’re only prolonging and deepening the pain (without a bailout)?
If foreclosure sales are 40% of the SD market, and Fannie + Freddie own almost 50% of the foreclosures, then they control almost 20% of the market, don’t they? No wonder the prices aren’t dropping as fast as some of us think they should!
If foreclosure sales are 40% of the SD market, and Fannie + Freddie own almost 50% of the foreclosures, then they control almost 20% of the market, don’t they? No wonder the prices aren’t dropping as fast as some of us think they should!
Fannie + Freddie may own 50% of the foreclosures in Flint MI, but definitely not in San Diego. My guess is, F+F owned foreclosures in San Diego are almost nonexistent.
If foreclosure sales are 40% of the SD market, and Fannie + Freddie own almost 50% of the foreclosures, then they control almost 20% of the market, don’t they? No wonder the prices aren’t dropping as fast as some of us think they should!
Fannie + Freddie may own 50% of the foreclosures in Flint MI, but definitely not in San Diego. My guess is, F+F owned foreclosures in San Diego are almost nonexistent.
If foreclosure sales are 40% of the SD market, and Fannie + Freddie own almost 50% of the foreclosures, then they control almost 20% of the market, don’t they? No wonder the prices aren’t dropping as fast as some of us think they should!
Fannie + Freddie may own 50% of the foreclosures in Flint MI, but definitely not in San Diego. My guess is, F+F owned foreclosures in San Diego are almost nonexistent.
If foreclosure sales are 40% of the SD market, and Fannie + Freddie own almost 50% of the foreclosures, then they control almost 20% of the market, don’t they? No wonder the prices aren’t dropping as fast as some of us think they should!
Fannie + Freddie may own 50% of the foreclosures in Flint MI, but definitely not in San Diego. My guess is, F+F owned foreclosures in San Diego are almost nonexistent.
If foreclosure sales are 40% of the SD market, and Fannie + Freddie own almost 50% of the foreclosures, then they control almost 20% of the market, don’t they? No wonder the prices aren’t dropping as fast as some of us think they should!
Fannie + Freddie may own 50% of the foreclosures in Flint MI, but definitely not in San Diego. My guess is, F+F owned foreclosures in San Diego are almost nonexistent.
