I saw this yesterday and thought what a great concept …we can only hope the budget furor in DC ‘chills out’ and allows room for substantive debate on this.
For more, read yesterday’s WSJ Article. For example: “Analysts at Credit Suisse estimate that reducing Fannie and Freddie’s foreclosed-property sales to around 30,000 each month, from the current rate of 50,000, would cut total distressed sales by one third and avoid a further 3% to 5% decline in home prices.” What do you think? Would this work to stabilize our markets by taking the “shadow” out any the dark clouds? And if so, can we get Fannie/Freddie’s owner (i.e. Congress) to act?