government: Proposed Bill in Congress Could Crush Housing Industry - 09/24/10 10:22 AM
From Matthew Ferrara & Company's Blog today:
If you’re looking for how the housing market double-dip will be created, here’s the answer. Never mind the endless taxpayer-backed money-pits of FHA, Fannie and Freddie: Here comes a proposal to grant defaulting homeowners the “right” to rent their homes for five years.
It’s called H.R. 5028 and it’s no joke. The “Right to Rent” bill drafted before Congress meets with the approval of the Center of Economic Policy and Research, a think-tank that believes home “ownership may not be the smartest option.” Not that such thinking in Washington should come as news to … (10 comments)

government: Fannie Maedoff's Double Standard - 06/25/10 10:05 AM

This week Fannie Mae, the government agency we love to hate, announced it would punish borrowers who strategically default on mortgages on non-performing housing assets. Funny how they didn’t mention their request for another $8.4 billion in taxpayer money last month.How long will the country – and the real estate industry in particular – put up with the joke that is Fannie Mae? We like to morph their name to “Maedoff” in our coverage of them because, well, except for Social Security, no greater ponzi scheme has ever been perpetrated on the American homeowner. And while homeowners should indeed take … (2 comments)

government: The Bully Pulpit versus the Housing Industry - 05/02/09 02:55 AM
Yesterday, President Obama announced he was prepared to break the law. After blaming the senior debt bondholders of Chrysler for pushing the company into Chapter 11, he sanctioned a plan to abrogate their covenants and force them to take pennies on their loaned dollar. No matter that their bonds were secured by the company’s assets. The rights of “speculators” are easily swept aside in populist frenzies. Notice how the President didn’t blink a teleprompter-eye when he stood with the union workers, the families and the communities - while transferring to them 55% control of the company assets. American lenders filled with … (0 comments)

Matthew Ferrara, Matthew Ferrara & Company ( -- Rainmaker large

Matthew Ferrara

Matthew Ferrara & Company

Boston, MA

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