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Government Considers Ways to Rent Foreclosed Homes

July 23, 2011  |  by John Heithaus

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?

Posted in Blog, MRIS CMO Insights

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One response to “Government Considers Ways to Rent Foreclosed Homes”

  1. I sent this as a suggestion to the website 2 years ago. I thought that that would be the best relief for the tenants who had to move from investment properties because the landlords couldn't afford to keep them and was foreclosed on. We now have too many people looking for rental properties than properties for them to move in. The tenants also have the worst credit so they can't buy. THEY MUST RENT. Fannie & Freddie should also have a property manager like myself to manage the properties for them to make sure the rent money is sent to them to be placed in an escrow account. No one is served when tenants have to move without any places to move into.

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