I read an article on Yahoo this morning regarding the $2.2 billion dollar loss that Fannie Mae recorded due to people defaulting on their loans. The part of the article that really stuck out to me was that Fannie Mae is anticipating further decline of the real estate market and they are projecting an increase in loan defaults.
What does this mean for the industry we make our living in? Should we expect housing prices to decrease or will it be harder to have a buyer qualified? I think the days of putting less than 20% down are going to be a thing of the past. What are your opinions?
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