[quote=markmax33]
He very clearly explains the Federal Reserve’s position and the GSEs. How you can say the GSE’s had little or nothing to do with the housing bubble when 90% of the mortgages currently written are owned by fannie mae and freddie mac? You sir have lost all credibility. You are no economist.[/quote]
How can I say it? I already did. Are we in a bubble now? I’m pretty sure we’re not. I’m also pretty sure that the GSE’s % of purchases of new mortgages is more than 90% right now.
But in 2003 it wasn’t. And it was an even smaller piece in 2004. And even smaller yet in 2005. And guess what? It was even smaller in 2006!
