Economics for the people

[LibertyUSA]

Do Away with GSA FannieMae and Freddie Mac

The housing market is in desperate need of a healthy secondary mortgage market. Mortgage loans and their interest rates should be based on the borrower’s ability to repay the loan and NOT on the guarantee that the federal government will pick up the tab for any losses. The growth of GSEs has all but eliminated any competition in the secondary mortgage market because interest rates are kept arbitrarily low due to the protections offered by the GSEs. Eliminate GSEs and allow a secondary mortgage…

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Thanks Zhao.