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$2.3 Trillion + $40 Billion More Mortgage Debt to be Bought by Fed
2012 Sep 13, 4:30am 4,912 views 10 comments
by David9 follow (0)
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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.
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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