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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 4,630 views 10 comments
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bubblesitter
2012 Sep 13, 8:28am
$40 Billion More Mortgage Debt to be Bought by Fed
Why is that? I thought housing was going up.
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.
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.
bubblesitter
2012 Sep 13, 8:38am
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?
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.
David9
2012 Sep 13, 9:13am
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...
FortWayne
2012 Sep 13, 9:21am
They aren't aiding the "housing sector". They are aiding the lenders sector, the big banks.
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. :-(
rufita11
2012 Sep 13, 3:42pm
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.
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.
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.
#housing