Fannie and Freddie in Trouble??????????? Yikes!

Marsha,   I think this is really bad news for us,  more families will be renting because few will be able to get a mortgage. Indymac may be the first of many banks to go insolvent.  The Government will prop up Fannie and Freddie, the consequences of not doing so are enormous.  I agree, write or call your Congressmen to release the oil reserves and allow offshore drilling plus give incentives to alternative energy companies so we can release this country from Middle East oil.

Marsha,

The biggest concern for me is that FannieMae and Freddie Mac did not originate the subprime and alt a loans that are considered more risky and are taking the blame for the mortgage crisis.

Fannie Mae and Freddie Mac do the better quality loans. Why are these loans in default?

If the best risk borrowers are getting foreclosed, does that same something about the economy? Is the problem national or regional?

Regardless, the impact of a loss of investor confidence in these two companies will be very harmful to the real estate market.

Thanks,

Richard

Marsha...I agree with you wholeheartedly about our politicians needing to get real and stop playing the games they do and start working for their constituents.  However the American public needs to wake up and take action to hold those they elected accountable.  If we keep doing what we are doing, we will simply keep getting what we are getting.

Increasing oil may appear to be the answer, however everything in life seems to be about MONEY.  I am willing to bet, that despite increased oil production, those who have the power, will control the supply.  Supply and demand, short supply, high demand, high prices.  I find it difficult to believe that if oil was heading for a short supply, why our Government Economists did not see it coming.

Richard... I agree with your comment, there are a lot of unanswered questions and it is disturbing.

Marsha,

You're right on the money. I have major concerns about what is going on in this country. What started as a chink in our economy is quickly turning into a gapping chasm. The poor and the middle class will suffer the most. In our market, multimillion dollar homes continue to sell reminding me of what a disconnect there is. Being a child of the 70's when public displays of discontent were part of life, I agree with you that the public has got to get on the band wagon before it is too late. As a college freshman, I was part of a group who took over the Dean's office as part of an anti war demonstration (shocking, huh! LOL). I'm about ready to do it again...this time going after Congress and all the other bozos in office who have done nothing and contnue to do nothing. For whatever reason, society has gotten so complacant. We can't continue to live in a fairy tale land believing that someone will take care of this mess and it will all be ok.

Marsha, I agree with what you say. How far in the hole does the country have to fall before action is taken.