Fannie AND Freddie

POTUS isn't any longer enamored of these two.
Many liberals moan the only way for women and minorities to buy homes is with government
backed security.
I think what the President may be hinting is that for a while, people should be more cautious
about buying.
The first sub prime loans were targeted to made to African American female single heads of
household. That probably began in 2006 or so.
In the 70s, black families bought a great many homes.
At the turn of this century, those mortgages began to be free and clear.
Why should banks allow that to continue?
In some of those families deaths had occurred to allow transfer of property.
In other families divorces had occurred.
Many of those retiring women were those who fulfilled the female and black requirements companies
sought in the seventies so they could seem diverse moved to upscale retirement apartments and condos. Why should those properties stay in that family? Why should greed not want those properties
back from the black community?
Then, since it had begun to work in many cases, why not spread the disease to other working
communities?
See, when a black woman in her fifties or sixties loses her home, society thinks that's par for the course. No one bothers to see any of it as a worrisome trend. Our society would take quite a while to
even start a study of what had begun to happen.
The black community is a bell weather for the nation because banks target blacks unchallenged.
When they perfect their poison products here, of course then they go for the best meat in our herds.
I think POTUS knows how dangerous this is for the country as a whole, and would like to discourage
it in real estate.
The Latino population in the U.S. is encouraged to buy fifty, sixty, seventy year old homes.  They are
not as inclined to do so as black families. A black person feels more secure living outside the
ownership of any kind of white or majority- even as regards the geography of real estate.
But here in Detroit, churches often invest in building and renting, providing housing for their faithful.
Maybe that is the better model. Banks are still owners, but not quite so intimately, and not of huge
difficult to regulate properties.
Although I know black families will always prefer ownership, I think younger ones would be willing
to work and save a little longer if rental properties were 'clean, well-lit places', as Ernest Hemingway
might say. We in this city would surely never want to go back to slum landlords. New York can't be
much different.
The thing is, I don't believe the bank ensnared as many black family properties as they had hoped to
acquire. Which is so odd, because with everyone out of work, what could have been the plan for so
many foreclosed homes?
The crisis was fomented when banks moved their machinations to so very many mainstream
middle-class hoods all at once.
I guess that can happen again, right?  If people begin to buy in large numbers we could see the banks
attempting to repeat this folly. They were so desperate, they foreclosed on people who didn't even
have defaulted mortgages! They foreclosed on people serving in Iraq.
So properties large and small were attacked.
Next stop, pensions.
Detroit's pensions are 90% funded. Since people worked for them, why allow them to be raided?
Easy question to answer.
Detroit city proper is considered a third world. In a great many parts of the city, Detroit is third world. Some neighborhoods have been depressed for nearly thirty years. They are not developing,
or underdeveloped. They have been and are continuously depressed areas...almost no commerce whatsoever.
When Detroit pensions are attacked, as the city has been, people in the country as a whole will say
'par for the course', what would anyone expect?
Bad idea people.
If the housing crisis put your property underwater, think about your pensions being underwater?
Detroit citizens are having their public schools decimated, though they have never turned down a tax
millage.
Lansing is destroying us as much as they can as best they can.
What good is my pension going to be if all my neighbors who were once city workers begin to starve?
When they get a few of us because we love coded racism so very, very much- they wind up getting
a bunch of us.
Pay attention to the city of 750,000 citizens who number only about 20,000 white.
I was forced to read Ernest Hemingway in college. So let's go back to him. 'Don't ask for whom the
bell tolls...'