By YesYNot follow 2012 Nov 19, 4:24am 1,302 views 4 comments
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NYT had a quick history lesson and reminder that they owe 140 billion.
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Getting the squatters out of the house they don’t deserve should be the first step. The tax payers have no obligation to provide rent-free houses to them.
Put your shadow inventory on the market for 10 cents on the dollar. You can use that money to start paying back the government.
I wonder how many houses are vacant and/or second homes or vacation homes? IIRC back in 2007 I read through the census numbers and it was around 20M. So, if things were tight, we do have enough houses for 20M households to live in without building more. $140B/200K/house -> 700K houses. So, maybe Fannie/Freddie are sitting on 700,000 empty houses. But others (rich people?) are sitting on millions of more houses.
The reality is probably more like Freddie/Fannie don't actually have the shadow inventory. Reality is probably much of those were fraud and house is worthless or doesn't even exist! I wonder.
"Fannie Mae, which owned 114,000 foreclosed homes as of March 31"
But realtors protest selling even 500:
But maybe the government will underwrite the losses so the loaner can sell without booking a loss and the government will absorb the loss?