Loading ...“Biden ignored the Housing Market, and instead was immersed with High Crime, Open Borders, runaway INFLATION, the Afghanistan Disaster, and a Military that he left in Chaos and Confusion. Everything was broken, but I, as President of the United States, have already fixed it! Now, l am giving special attention to the Housing Market. Because I chose not to sell Fannie Mae and Freddie Mac in my First Term, a truly great decision, and against the advice of the “experts,” it is now worth many times that amount — AN ABSOLUTE FORTUNE – and has $200 BILLION DOLLARS IN CASH. Because of this, I am instructing my Representatives to BUY $200 BILLION DOLLARS IN MORTGAGE BONDS. This will drive Mortgage Rates DOWN, monthly payments DOWN, and make the cost of owning a home more affordable. It is one of my many steps in restoring Affordability, something that the Biden Administration absolutely destroyed. We are bringing back the AMERICAN DREAM that was destroyed by the last Administration. MAKE AMERICA GREAT AGAIN!”
No ego problem here, eh?!
Trouble is, $200 BILLION DOLLARS IN CASH
or perhaps that should be $200 billion dollars in cash
is only 1.5% of the $13.07tn mortgage debt. How much effect can it have? Where is the $2tn revenue from tariffs?
Plus, of course, making mortgages (not houses) more affordable pushes the price of houses up.