Fannie & Freddie holding up house prices

[feraina]

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.

http://www.bloomberg.com/apps/news?pid=20601109&sid=aMz0dl3IdwjU

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!

[Eugene]

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.

[Eugene]

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.

[Eugene]

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.

[Eugene]

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.

[Eugene]

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.

[jficquette]

With our government as our friend who needs enemies??

John

[jficquette]

With our government as our friend who needs enemies??

John

[jficquette]

With our government as our friend who needs enemies??

John

[jficquette]

With our government as our friend who needs enemies??

John

[jficquette]

With our government as our friend who needs enemies??

John

[cr]

See for yourself:

http://www.fanniemae.com/reoSearchApplication/fanniemae/reoSearch.jsp?p=Fannie+Mae-Owned+Property+Search

[cr]

See for yourself:

http://www.fanniemae.com/reoSearchApplication/fanniemae/reoSearch.jsp?p=Fannie+Mae-Owned+Property+Search

[cr]

See for yourself:

http://www.fanniemae.com/reoSearchApplication/fanniemae/reoSearch.jsp?p=Fannie+Mae-Owned+Property+Search

[cr]

See for yourself:

http://www.fanniemae.com/reoSearchApplication/fanniemae/reoSearch.jsp?p=Fannie+Mae-Owned+Property+Search

[Author]

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