So, who’s got a plan?
loading...
loading...
In early August 2011, the White House proposed selling the Federal Housing Finance Agency’s (FHFA) real estate owned properties (REOs) in bulk (read: cheap) to investors on the condition they rent out the properties for an agreed time period.
In the run-up to the expiration of the public opinion period, a Senate subcommittee met to debate the proposal and gather the opinions of power players in the nation’s housing market. [For more information on the Administration’s proposal to bolster home prices, see the September 2011 first tuesday article, REOs for rent.]
Although there were some idiosyncrasies to each response, the majority voice was clear: don’t do it! Between real estate trade association presidents, Home Builders Association CEOs and chief economists from trendy real estate companies, the Administration’s REO rental proposal was more or less dragged through the mud.
End of free preview
The rest of this content is only available to first tuesday Members. If you are a current first tuesday Member, please login above.
Not a current Member? For only $29.50, our Annual Membership includes access to:
- the first tuesday journal;
- over 350 first tuesday real estate forms;
- over 35 FARM letters; and
- a 16-book reference library and more!
To sign up, visit firsttuesday.us!
loading...
loading...
About The Author
Jeffery Marino
is an assistant editor and lead on our first tuesday news alerts, specializing in critical economic analysis and its impact on California’s real estate market.
