The govt wants to be your landlord

[utvolpj]

News from The Associated Press

The Federal Housing Finance Agency said Wednesday it is seeking input from investors on how to rent roughly 250,000 homes owned by government-controlled mortgage companies Fannie Mae and Freddie Mac and the Federal Housing Administration. All of the homes are foreclosures.


Converting the homes into rentals may reduce "credit losses and help stabilize neighborhoods and home values," said Edward DeMarco, acting director of the Federal Housing Finance Agency, which oversees Fannie and Freddie.

I can only imagine what a neighborhood full of gov't housing would do to your home value

 

[golfballs]

they also wouldn't rule out bulldozing homes

 

[droski]

my first thought exactly. you just know it will be mostly subsidized low income housing. and then what happens when the real estate market comes back? i can just see it now. "the govt is kicking us out of our house!"

 

[Cartervol]

Stabilizing neighborhoods with renters, yeah ok.

 

[volinbham]

Instead of bulldozing, it should be a lottery for people to get a chance to blow them up.

Kinda like this scene (trees) from Rollerball.

[youtube]http://www.youtube.com/watch?v=WCunwzlr8ro[/youtube]

 

[tigervol9802]

Every time I can't imagine there being a dumber idea coming from DC, they continue to blow me away.

Thankfully there aren't any forclosure homes in my subdivision.

 

[utvolpj]

what's dumb about it? They create the crisis, bail out the offenders and then take over a huge amount of homes to put less fortunate people in. Are you going to vote against a guy that gave you a cheap house in a nice neighborhood? It's a plan on par with Bush masterminding 9/11