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no_residue
Posts: 1
Registered: ‎02-02-2009
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FHFA director DeMarco's head on a platter, coming soon.

Apparently DeMarco's insistence on protecting the taxpayer from GSE losses has upset a few interests, and they want him gone. Not generous enough in splashing around taxpayer's money (in form of subsidizing GSE losses) to helping people stay in homes they probably couldn't afford, and would be better off walking away from.

 

 

http://blogs.wsj.com/developments/2012/01/11/democrats-push-obama-to-name-new-housing-regulator/

 

Should President Barack Obama play the “recess” card again?

A group of 28 U.S. House Democrats from California thinks that would be a good idea. They’re urging Mr. Obama to immediately replace a federal housing regulator with an appointee who is more willing to take steps to aid the flagging housing market.

The lawmakers, led by Rep. Zoe Lofgren, urged Mr. Obama to find a new leader for the Federal Housing Finance Agency, replacing the acting director, Edward DeMarco. The letter underscores increased pressure on the Obama administration to do more to turn around the troubled housing sector as the November election approaches.

Mr. DeMarco, whose office oversees mortgage-finance giants Fannie Mae and Freddie Mac, has been in a tough spot. He has faced conflicting criticism from lawmakers on Capitol Hill: Democrats have been after Mr. DeMarco for months to use Fannie and Freddie more aggressively to aid the housing market. But Republicans have consistently opposed such steps and say they would increase the cost of the federal rescues of the firms, which have cost taxpayers $151 billion.

 

...

 

 

Platinum Regular Contributor
tjh
Posts: 4,946
Registered: ‎01-09-2010

Re: FHFA director DeMarco's head on a platter, coming soon.

I think it's interesting, if not completely disingenous, that the euphemism "turn around the troubled housing sector" or "aid the housing market" or "stabilize housing" is really government/realtor speak for "inflate housing prices". 

 

Why is it good that housing prices inflate?  After all, aren't houses depreciating assets?

 

And, increasing housing prices is in direct conflict with another, oft repeated political mantra, "affordable housing".

 

How much more governmental can we get? :smileyfrustrated:

Gold Super Contributor
TerriM
Posts: 3,326
Registered: ‎05-02-2011
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Re: FHFA director DeMarco's head on a platter, coming soon.


tjh wrote:

I think it's interesting, if not completely disingenous, that the euphemism "turn around the troubled housing sector" or "aid the housing market" or "stabilize housing" is really government/realtor speak for "inflate housing prices". 

 

Why is it good that housing prices inflate?  After all, aren't houses depreciating assets?

 

And, increasing housing prices is in direct conflict with another, oft repeated political mantra, "affordable housing".

 

How much more governmental can we get? :smileyfrustrated:


Yeah.  It's been said multiple times before in these forums, but behind every foreclosure is a person waiting to buy that house at a (more) affordable price.  I'm not unsympathetic to those who face losing a house, but I would also like to see house prices a little lower around here.

Platinum Super Contributor
buyinghouse
Posts: 5,879
Registered: ‎04-23-2011
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Re: FHFA director DeMarco's head on a platter, coming soon.

    I laugh when I read political opinions of some sort everywhere and I can't avoid myself of cracking a joke. Like the one where some "people" kept repeating since our president took office that "the militias would be marching down the street".......:smileyvery-happy:............man, I've been outside my former apartment and now our home almost every day waiting and waiting and waiting. I got tired of waiting for them to show up, or at least hearing the marching band...............:smileylol:

 

 And then............somebody of a political career was overheard saying he would kill the mortgage tax deduction or something like that. Isn't that a great idea to revive the RE market?

 

   Life is great, isn't it?