Ask Me Help Desk

Ask Me Help Desk (https://www.askmehelpdesk.com/forum.php)
-   Current Events (https://www.askmehelpdesk.com/forumdisplay.php?f=486)
-   -   Govt subsidies for beach front McMansions (https://www.askmehelpdesk.com/showthread.php?t=850079)

  • Nov 30, 2022, 07:34 AM
    tomder55
    Govt subsidies for beach front McMansions
    So let's say you even qualify for a $million+ mortgage . Do you think taxpayers should guarantee them ?

    I'm betting most people say no.

    Federal Housing Finance Agency (FHFA) said yesterday that it will increase the maximum size of mortgages that Fannie and Freddie cover(the conforming loan limit) to $1,089,300 in high cost areas .

    FHFA Announces Conforming Loan Limit Values for 2023 | Federal Housing Finance Agency

    US Government to Back Mortgages of More Than $1 Million (yahoo.com)

    This of course is a giveaway to the Dem base in the Hamptons NY ; AND areas of California where median home prices exceed $1million like Orange County ($1.2 million), San Francisco ($1.3 million) and San Jose ($1.7 million).

    You remember Fannie and Freddie. These were the government institutions that went bust after Dems like Barney Frank said it was a right for everyone to own a home. Taxpayers bailed them out with $190 billion monopoly bucks .

    Lesson learned ? Nah . Instead as home prices increased post Great Recession so has government backed guarantees .
  • Nov 30, 2022, 09:16 AM
    jlisenbe
    That would be a good place for the republican House to begin. Sadly, I doubt they will.

  • All times are GMT -7. The time now is 12:21 AM.