We've all been wondering how home prices could be soaring when wages are so low and an estimated 10 million foreclosures have been completed. Now a wave of reports are pointing to more trouble in residential real estate.
America has a problem, a big one, the middle class has been wiped out. It is economic genocide and the target is most of America. The statistics just continue to pour in on how poorly America is doing. Even as the great manufactured crisis is over in D.C., the political agenda once again has nothing to do with helping America's middle class. Why jobs are not job #1 by this government we do not know.
President Obama gave a speech on winding down Freddie Mac and Fannie Mae, the GSEs often blamed for the housing crisis and a darling of conservative ire. Government sponsored enterprises, or GSEs buy up mortgages from private lenders and the theory is to loosen up funds to stir additional lending.
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