- Image via Wikipedia
- Image via Wikipedia
Obama announced his new budget, which exceeded most people’s expectations regarding spending. The deficit is likely to be worse than projected because of rosy revenue assumptions.
Today WaPo announces that serious problems are developing in the FHA:
The share of borrowers who are falling seriously behind on loans backed by the Federal Housing Administration jumped by more than a third in the past year, foreshadowing a crush of foreclosures that could further buffet an agency vital to the housing market’s recovery.
About 9.1 percent of FHA borrowers had missed at least three payments as of December, up from 6.5 percent a year ago, the agency’s figures show.
This deterioration should be a surprise to no one. FHA was selected to replace Fannie and Freddie. At this point, it seems to be the perfect substitute. They are allowing the same irresponsible lending practices that produced the disaster that is Fannie and Freddy. This time will be no different. The ending will be the same.
The FHA will be the next bailout, but not the last. Hold on to your wallets, taxpayers!
Housing Prices Continue Downward
More Bank "Pretend and Extend"
Enron was an Ethical Angel compared to our Government
The Heavy Hand of Central Planners
What Housing Recovery?
This blog is excellent. Keep up the good work, inspires me to keep building mine!
Of course, what a great site and informative posts, I will add backlink – bookmark this site? Regards, Reader.
Keep working ,great job!
amazing stuff thanx
I was scanning something else about this on another blog. Interesting. Your position on it is diametrically contradicted to what I read to begin with. I am still pondering over the diverse points of view, but I’m inclined to a great extent toward yours. And regardless, that’s what is so super about modernized democracy and the marketplace of thoughts online.
Hi – very great website you have established. I enjoyed reading this posting. I did want to write a comment to tell you that the design of this site is very aesthetically delightful. I used to be a graphic designer, now I am a copy editor in chief for a marketing firm. I have always enjoyed playing with computing machines and am trying to learn computer code in my spare time (which there is never enough of lol).
Hello, great post. I look forward to your next topic. Thank you, Zoe