{"id":11277,"date":"2010-02-11T18:22:48","date_gmt":"2010-02-12T01:22:48","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=11277"},"modified":"2010-02-11T18:22:48","modified_gmt":"2010-02-12T01:22:48","slug":"we-are-all-on-welfare-now-the-governments-assistance-in-the-housing-market-now-is-less-about-giving-us-a-soft-landing-than-it-is-about-having-us-furiously-flap-our-arms-to-stay-aloft","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/11277\/we-are-all-on-welfare-now-the-governments-assistance-in-the-housing-market-now-is-less-about-giving-us-a-soft-landing-than-it-is-about-having-us-furiously-flap-our-arms-to-stay-aloft\/","title":{"rendered":"We are all on welfare now: “The government’s assistance in the housing market now is less about giving us a soft landing than it is about having us furiously flap our arms to stay aloft.”"},"content":{"rendered":"

The Washington Examiner:<\/em><\/a><\/p>\n

The unspoken, bottom line: The federal government has already nationalized the housing industry. We’re not just talking about Uncle Sam providing a few subsidies, or even taking over a few of the big players, as they have in the auto industry. This is a complete takeover. Every new mortgage today is a government mortgage.<\/p>\n

Over the last two years, government mortgage and mortgage-backed holdings have grown on net by nearly $1 trillion. Private investors and institutions have shed more than $1.5 trillion — through foreclosure losses, pay downs, and by selling to government.<\/p>\n

The effective result is a government-run housing market. Barofsky reports that right now, the government is responsible for about 100 percent of all new mortgage activity. You read that correctly. To put it in his own words:<\/p>\n

“According to Federal Reserve net borrowings data, the federal government and the organizations it backs now guarantee or issue almost all net new borrowings for mortgages and MBS.”<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"

The Washington Examiner: The unspoken, bottom line: The federal government has already nationalized the housing industry. We’re not just talking about Uncle Sam providing a few subsidies, or even taking over a few of the big players, as they have in the auto industry. This is a complete takeover. Every new mortgage today is a […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[251,29,26,6,5],"tags":[],"class_list":{"0":"post-11277","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-big-mother","7":"category-group-therapy","8":"category-lending","9":"category-marketing","10":"category-real-estate","12":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":10963,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/10963\/barney-frank-i-believe-this-committee-will-be-recommending-abolishing-fannie-mae-and-freddie-mac-in-their-current-form-and-coming-up-with-a-whole-new-system-of-housing-finance\/","url_meta":{"origin":11277,"position":0},"title":"Barney Frank: “I believe this committee will be recommending, abolishing Fannie Mae and Freddie Mac in their current form and coming up with a whole new system of housing finance.”","author":"Greg Swann","date":"January 22, 2010","format":false,"excerpt":"To say anything at all would be way too much. From the Wall Street Journal:\"The remedy here is...as I believe this committee will be recommending, abolishing Fannie Mae and Freddie Mac in their current form and coming up with a whole new system of housing finance,\" said Rep. Barney Frank\u2026","rel":"","context":"In "Big Mother"","block_context":{"text":"Big Mother","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/big-mother\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":13025,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/13025\/lucha-libre-mortgage-reform\/","url_meta":{"origin":11277,"position":1},"title":"Lucha Libre Mortgage Reform","author":"Don Reedy, San Diego, CA","date":"August 18, 2010","format":false,"excerpt":"Last week there was some discussion about what was to have happened today in Washington. This discussion centered around whether the government would or would not take certain steps to protect the housing market through a mandated deficit funded mortgage bailout. Today, we have some new information on what Tim\u2026","rel":"","context":"In "General"","block_context":{"text":"General","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/general\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4267,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/4267\/update-on-fannie-and-freddie\/","url_meta":{"origin":11277,"position":2},"title":"Update on Fannie and Freddie","author":"Tom Vanderwell","date":"September 8, 2008","format":false,"excerpt":"Well, it happened.\u00a0 In case you haven\u2019t heard the news, Fannie and Freddie were bailed out by the Federal Government over the weekend.\u00a0\u00a0 I\u2019m not going to go over all of the details but just try to hit some \u201chigh points.\u201d So, here goes: 1. The Federal government now owns\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":14070,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/14070\/farewell-to-fannie-and-freddie-hold-your-breath\/","url_meta":{"origin":11277,"position":3},"title":"Farewell to Fannie and Freddie? Hold your breath…","author":"Greg Swann","date":"February 8, 2011","format":false,"excerpt":"The Obamanation plans to offer up three proposals to eliminate FannieMae and FreddieMac from the secondary mortgage marketplace. Expect to hear much mournful keening, in coming weeks, from the country's best enemy of private property, the National Association of Realtors. From the Wall Street Journal:More than two years after the\u2026","rel":"","context":"In "Big Mother"","block_context":{"text":"Big Mother","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/big-mother\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5913,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/5913\/treasury-may-lower-mortgage-rates\/","url_meta":{"origin":11277,"position":4},"title":"Treasury\u00a0may lower mortgage rates?","author":"Tom Vanderwell","date":"December 3, 2008","format":false,"excerpt":"WASHINGTON (MarketWatch) - The Treasury Department is contemplating a proposal that would cut mortgage rates for new loans for homes, according to the Wall Street Journal. The plan would employ Fannie Mae to offer mortgages with rates as low as 4.5%, roughly 1% lower than current rates. The measure is\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6858,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/6858\/what-are-the-stimulus-plan-and-tarp-ii-going-to-mean-for-the-housing-and-mortgage-markets\/","url_meta":{"origin":11277,"position":5},"title":"What are the Stimulus Plan and TARP II going to mean for the housing and mortgage markets?","author":"Tom Vanderwell","date":"February 9, 2009","format":false,"excerpt":"While I could write for a LONG time about it, I'm going to limit it to what I feel are the top 6 things that I think could very well happen.\u00a0\u00a0 Keep in mind, this is being written after watching President Obama's press conference but before anything gets passed.1. The\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/11277","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=11277"}],"version-history":[{"count":1,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/11277\/revisions"}],"predecessor-version":[{"id":11278,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/11277\/revisions\/11278"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=11277"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=11277"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=11277"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}