I'm in the business and I keep asking myself this question. The media always has something they are focusing on but this time I do think this is a biggie. I suspect we'll all pay for the fiasco.
The California Association of Realtors issued a statement today and here is part of their remarks.
"To help your clients understand the role of the GSEs, please take a look at a new video featuring C.A.R. Executive Vice President Joel Singer at http://www.car.org/newsstand/video-js-gse. In “Fannie and Freddie: Why They Matter to You,” Joel explains the often confusing but critical role Fannie Mae and Freddie Mac play in the housing market in clear and concise terms.
We’ll be tracking the story for you as it develops in Wednesday’s “C.A.R. Newsline,” and will have additional information to help you make sense of the story for consumers in this Thursday’s edition of “Market Matters.”
I'll keep you posted and together we'll try to understand the situation. I'd be curious to know how you feel about Fannie and Freddie. Does it make you feel more confident about a purchase?
Heather@HeatherandSarah.netSarah@HeatherandSarah.net244 Redondo Ave.Long Beach, CA 90803