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$2.3 Trillion + $40 Billion More Mortgage Debt to be Bought by Fed


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2012 Sep 13, 4:30am   4,449 views  10 comments

by David9   ➕follow (0)   💰tip   ignore  

http://economywatch.nbcnews.com/_news/2012/09/13/13845675-fed-to-buy-more-debt-in-effort-to-boost-sluggish-economy?lite

The housing market must really be rosy. The Fed just announced they are purchasing $40 more Billion dollars a month in mortgage debt to the already
$2.3 Trillion purchased so far.

"The Fed's move to purchase more mortgage debt may be partly aimed at aiding the housing sector"

And just so I didn't make it up: "The latest purchases build on the $2.3 trillion in U.S. government and housing-related debt the Fed has already bought."

Need I say more? Oh, interest rates will remain low until 2015, not 2014.

The bond buying will continue until employment improves. That's the message the Federal Reserve gave Thursday when it announced it will take new steps to boost the sluggish recovery including buying an additional $40 billion of mortgage debt every month for the foreseeable future.

#housing

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1   bubblesitter   2012 Sep 13, 8:28am  

David9 says

$40 Billion More Mortgage Debt to be Bought by Fed

Why is that? I thought housing was going up.

2   PockyClipsNow   2012 Sep 13, 8:36am  

All this money printing and MBS buying and some people still predict lower prices? wtf

Jobs do not matter. Speculators will use the low rates to buy up rental homes and stick section 8 renters in them if they cant find a guy with a job.

3   David9   2012 Sep 13, 8:38am  

bubblesitter, you may have a long wait my friend with all this money printing.

PockyClipsNow, sadly, looking that way.

4   bubblesitter   2012 Sep 13, 8:38am  

PockyClipsNow says

stick section 8 renters in them if they cant find a guy with a job.

and where exactly would the govt. get money to pay for the section 8 scheme?

5   PockyClipsNow   2012 Sep 13, 8:46am  

Duh, the federal budget is now 50% money printing/bond selling/buying own bonds.

The feds print money to pay the rent for s-8 people and also to pay the banks for the 100 million defaulting sqautters.

The guy with a day job paying rent is a suka in Obamamerica.

At least Romney wants to fire bernanke. No doubt the next guy will print more money.

6   David9   2012 Sep 13, 9:13am  

PockyClipsNow says

At least Romney wants to fire bernanke.

I earned the duh, thank you.

I'll probably get a whole bunch of dislikes and end up a troll, but..

I was just talking with my friend today how I agree with ..gasp.. horrors... the other side on some, not all of the issues. Printing money to prop up the housing market and firing bernanke are 2...

7   FortWayne   2012 Sep 13, 9:21am  

They aren't aiding the "housing sector". They are aiding the lenders sector, the big banks.

8   MAGA   2012 Sep 13, 10:44am  

It's called the Full Realtor Employment Act of 2012. We need to keep those commissions coming in for the Realtards. :-(

9   rufita11   2012 Sep 13, 3:42pm  

bubblesitter says

PockyClipsNow says

stick section 8 renters in them if they cant find a guy with a job.

and where exactly would the govt. get money to pay for the section 8 scheme?

DO YOUR MATH

In Contra Costa County, they are cracking down heavily on section 8. My best friend's parents have been on it for a while, but are getting audited and told to kick out their adult sons or pay 2/3 the rent instead of 1/3. Too bad section 8 pays for two able-bodied men to stay in a home with a pool in a nice neighborhood in the first place. But at least they are tightening the belt.

10   Tepid   2012 Sep 18, 1:53am  

This money is specifically going to the 1% to cover their toxic mortgages. One thing for sure, the banks (1%) are better off today than they were 4 years ago. An example of the wealthy protecting the wealthy on your dime.

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