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"That the justices saw fit to bring Rose Knick’s case before it again speaks volumes to the importance of the case. To deny Rose—or any American—the ability to challenge government abuse of this fundamental right is an abomination of the Framers’ intent."
https://pacificlegal.org/ms-knick-goes-to-washington-again/
Listening to the oral arguments, they were not pleased at all with the government. We will know shortly what their ruling is. As you know, in the civilian world, a Conservator who self deals and takes all of his wards profits into perpetuity, ends up with a lengthy period of incarceration and a restitution order to make the victims whole. Maybe they will order Tim Geithner and Edward DeMarco to pay back their victims one dollar at a time in cash, 1,2,3,.....
18 cases left for the October 2020 term, according to the ScotusBlog
https://www.scotusblog.com/2021/06/announcement-of-orders-and-opinions-for-monday-june-14/
I think the SCOTUS today decided that Greer AND Gary are the same issue and therefore the Britt Kavanaugh opinion (9-0) counts technically as 2 cases!
2 major paradigm shifts seem likely to take place post Collins. First, "the Sovereign can do no wrong" under HERA will be ended and second "the jps is your best bet on playing the exit from government control" will be ended.
Justices Thomas and Gorsuch, two great defenders of the peoples Liberties from government overreach are both due to write an opinion and I can't think of a better one than Collins! Just read the Justice Thomas concurring opinion in Seila Law.
What date should I mark my calendar for the return of the fulcrum security dividends and the dilution solution?
It should be a good ruling from the SCOTUS and we have waited soooooo, soooooo, soooooo long to see some Justice! Good luck to everyone!
We've been standing a long time in the refund line, but I hear the UST has money! GLTA!
Don't forget about your silent partner's share! When you eventually pass away (I hear it's inevitable!), he will be at the funeral shaking down your loved ones for 40% of it! Does Michigan have a death tax? Might be a good time to at least consider speaking with a CPA or estate planning attorney because I am pretty sure they will recommend annually gifting the shares to whomever you want to transfer them to...
Uncle Suggy may lose the battle in Collins, but he will get your stuff in the end! Rest assured that the government knows what is best for your money, not you!
Eliminating the nws with the LP going to zero would be a big leap forward to getting the government boot off our necks, especially compared to where we are now, which is total Nationalization by the government. I'm thinking that the most likely outcome is MC removable at will, nws voided since it is an ultra vires act and in violation of the APA, and remand to the 5th for damages. Some clarification from the SCOTUS on the anti-injunction and Succession clauses would be nice as well.
I think the longshot Bulldozing of hera would effectively eliminate the abusive and coercive Governmental overreach and would address the 12.75 year, never ending, "temporary conservatorships" of the gses' by eliminating the fhfa entirely and putting the parties in the position they were in prior to September 6th, 2008, with the regulator reverting back to OFHEO.
So far only the defendant has utilized the stall tactic during this 1/2 decade plus, multi billion dollar Litigation. Depending on how the SCOTUS rules, it may be in the Plaintiffs strategic interests to begin stalling the Litigation, especially if the Government appears reluctant to accept any responsibility for their bad acts.
If BA is bankrolling this Litigation and he still owns 5 to 10 percent of the common, wouldn't it maximize his returns to have the common do well and he would be reluctant to throw the common under the bus, as your constant stream of posts always suggest?
We know BA at one point held at least 5% to 10% of the common of both the gses and alot of jps. He also seems like he's still very actively involved from his yearly updates. The tough part about this entire drama is that I wonder if the federal government would have gotten away with the looting of tens of thousands of hard working American retirees and families if BA or another "evil hedge fund guy" didn't step in to take on an adversary with virtually unlimited resources and unlimited time. The reluctance of the Bush, Obama, Trump, and lately Bidens Administration (not to mention Congress) to protect Americans property rights and to continue the pilfering of two large private corporations and consequently their shareholders is disturbing to me and I hope to the SCOTUS as well.
I get the argument about private gains and social losses, but the fact of the matter is that regulators (especially the Libertarian Greenspan) turned their heads away when the PLS market became a race to the bottom in both loan pricing and quality, the federal government has been fully repaid, and the federal government by law in 1968 decided to privatize the gses.
I'd love to see the bulldozer here, but I think the SCOTUS uses it very infrequently (no wonder the US Congress feels free to write all these laws that allow the 4th Branch of government to possibly infringe on the Liberty of its citizens, since the SCOTUS will fix, edit, and rewrite the statute after 12.75 years or so!). With the bulldozer, I don't think the SCOTUS would be asking any governmental official if they want to ratify the nws simply because all the fhfas actions for the last 12.75 years would be void. But the court always has many options to choose from.
From what I understand, there are 3 regular Joe Plaintiffs, and I am assuming that they didn't have the 10's of millions to bankroll a David v Goliath fight with a hostile Uncle Suggy. I suspect BA or Pags is writing the checks that don't bounce.
Also I believe that the ACTUAL CLIENTS, here Collins, Marcus, et.al, ARE TECHNICALLY THE ONES WHO DECIDE whether or not to settle or to continue litigating, but of course BA or Pags can tell them go ahead but I'm not bankrolling it anymore unless you do what I suggest.
What types of issues would there be in the event the SCOTUS decides a bulldozer is the appropriate tool to use with HERA? I am pretty sure no one thinks that this will happen, but wouldn't they remand to the lower court to put the parties in the position they were in prior to HERA?
Did Timothy Geithner ever say anything publicly about the net worth swipe?
Before the Swipe: Treasury Secretary Timothy Geithner said Tuesday that the mortgage crisis will not lead the administration either to abandon or nationalize mortgage giants Fannie Mae and Freddie Mac. https://www.csmonitor.com/USA/2010/0323/Geithner-abandoning-Fannie-Mae-not-a-solution-to-mortgage-crisis
ul·tra vi·res
LAW
adjective
acting or done beyond one's legal power or authority.
"at one point they argue that the legislation is ultras vires"
adverb
beyond one's legal power or authority.
"he will take action against any body acting ultra vires"
Source: Oxford Dictionary
"While the phrase "ultra vires" has been used to desig-
nate, not only acts beyond the express and implied powers
of a corporation, but also acts contrary to public policy or
contrary to some express statute prohibiting them, the
latter class of acts is now termed illegal, and the "ultra
vires" confined to the former class. In re Grand Union
Co., C.C.A.N.Y., 219 F. 353, 363; Staacke v. Routledge, 111
Tex. 489, 241 S.W. 994, 998; Pennsylvania H. Co. v. Minis,
120 Md. 461, 496, 87 A. 1062, 1072."
Source: Blacks Law Dictionary
Who was UST secretary here? Treasury Department Announces Further Steps to Expedite Wind Down of Fannie Mae and Freddie Mac
8/17/2012
Modifications to Preferred Stock Purchase Agreements Will Make Sure That Every Dollar of Earnings Fannie Mae and Freddie Mac Generate Will Benefit Taxpayers
Announcement Will Support the Continued Flow of Mortgage Credit
during a Responsible Transition to a Reformed Housing Finance Market
WASHINGTON -- The U.S. Department of the Treasury today announced a set of modifications to the Preferred Stock Purchase Agreements (PSPAs) between the Treasury Department and the Federal Housing Finance Agency (FHFA) as conservator of Fannie Mae and Freddie Mac (the Government Sponsored Enterprises or GSEs) that will help expedite the wind down of Fannie Mae and Freddie Mac, make sure that every dollar of earnings each firm generates is used to benefit taxpayers, and support the continued flow of mortgage credit during a responsible transition to a reformed housing finance market.
“With today’s announcement, we are taking the next step toward responsibly winding down Fannie Mae and Freddie Mac, while continuing to support the necessary process of repair and recovery in the housing market,” said Michael Stegman, Counselor to the Secretary of the Treasury for Housing Finance Policy. “As we continue to work toward bi-partisan housing finance reform, we are committed to putting in place measures right now that support continued access to mortgage credit for American families, promote a responsible transition, and protect taxpayer interests.”
The modifications to the PSPAs announced today are consistent with FHFA’s strategic plan for the conservatorship of Fannie Mae and Freddie Mac that it released in February 2012. The modifications include the following key components:
Accelerated Wind Down of the Retained Mortgage Investment Portfolios at Fannie Mae and Freddie Mac
The agreements require an accelerated reduction of Fannie Mae and Freddie Mac’s investment portfolios. Those portfolios will now be wound down at an annual rate of 15 percent – an increase from the 10 percent annual reduction required in the previous agreements. As a result of this change, the GSEs’ investment portfolios must be reduced to the $250 billion target set in the previous agreements four years earlier than previously scheduled.
Annual Taxpayer Protection Plan
To support a thoughtfully managed wind down, the agreements require that on an annual basis, each GSE will – under the direction of their conservator, the Federal Housing Finance Agency – submit a plan to Treasury on its actions to reduce taxpayer exposure to mortgage credit risk for both its guarantee book of business and retained investment portfolio.
Full Income Sweep of All Future Fannie Mae and Freddie Mac Earnings to Benefit Taxpayers for Their Investment
The agreements will replace the 10 percent dividend payments made to Treasury on its preferred stock investments in Fannie Mae and Freddie Mac with a quarterly sweep of every dollar of profit that each firm earns going forward.
This will help achieve several important objectives, including:
· Making sure that every dollar of earnings that Fannie Mae and Freddie Mac generate will be used to benefit taxpayers for their investment in those firms.
· Ending the circular practice of the Treasury advancing funds to the GSEs simply to pay dividends back to Treasury.
· Acting upon the commitment made in the Administration’s 2011 White Paper that the GSEs will be wound down and will not be allowed to retain profits, rebuild capital, and return to the market in their prior form.
· Supporting the continued flow of mortgage credit by providing borrowers, market participants, and taxpayers with additional confidence in the ability of the GSEs to meet their commitments while operating under conservatorship.
· Providing greater market certainty regarding the financial strength of the GSEs.
For a copy of the modification agreements for the PSPAs, please visit, link and link.
https://www.treasury.gov/press-center/press-releases/Pages/tg1684.aspx
C'mon Skepi, isn't this really a case about Socialism v Capitalism? If the SCOTUS rules to maintain the rule of law and continue this country's 250 years of pro Capitalism, do you really think it's 50/50? Could be "yuge"!
In this Oxford style debate at NYU on Socialism v Capitalism, 71% believed in Capitalism. Get yourself some popcorn and watch:
Latest from Marcia L. Fudge, HUD Secretary, Op Ed, WP: "This week, HUD is publishing a rule that will require every local government that accepts federal housing dollars to make concrete and meaningful commitments toward affirmatively furthering fair housing. In some places, this could mean developing more affordable housing by relaxing restrictive zoning codes that prevent all but the wealthiest from living in certain communities. In others, it could entail bringing new services - such as affordable public transit - to neighborhoods that lack them.
Those who oppose efforts to forge a fairer and more inclusive America have labeled such policies a federal government attempt to "abolish the suburbs" through "social engineering."
Nothing could be further from the truth. The truth is that this step represents a call for local leaders to make their own decisions about how to meet the requirements of a long-standing law.
As a former mayor, I understand every community faces its own unique set of challenges and opportunities. I know there is no cookie-cutter solution when it comes to fair housing.
So, instead of telling state and local leaders what to do, we want them to identify fair housing barriers that exist within their own communities - and address them through open and honest dialogue that includes representatives from every segment of their population.
These leaders can then work together in devising strategic, long-term plans that leverage federal support and other resources to enact more inclusive housing policies. At every step in this planning process, HUD would be there to offer guidance and support.
The publication of this interim rule is a significant first step in HUD's efforts to fully enforce our duties under the Fair Housing Act. Our department is embarking on a process to design an additional, comprehensive rule that gives communities further tools and guidance. We will gather input from a wide range of sources - including civil rights organizations, elected officials, federal agencies, housing providers, policymakers and members of the public. Once that process is complete, we plan to issue a final rule that responds to their valuable advice and provides clarity for all our stakeholders.
Although the conversations ahead may not always be easy, I believe our nation is ready to have them. Since the summer of 2020, we have witnessed a mass awakening about the urgent need to root out systemic racism. While we have seen glimmers of hope in that time, our work is far from finished. We must remember the words of the Rev. Martin Luther King Jr.: "Human progress never rolls in on wheels of inevitability."
Our government must advance justice affirmatively and proactively by eradicating the many forms of discrimination that still exist across our society - including in our housing sector.
At HUD, we will do everything we can to place the United States on a path that finally provides every American with equality, opportunity and equity - regardless of the color of their skin or the Zip code in which they are born.
The writer is the U.S. secretary of housing and urban development."
The Federal Government has embraced teleworking for its 2.1 million employees: "The embrace of "maximum telework flexibilities" amounts to a massive shift for the federal government, which has long lagged behind the private sector when it comes to offering remote work. It is likely to be closely watched by other employers, since the federal government, with a workforce of 2.1 million, is the country's largest employer."
"Approach is a culture shift for federal employees
The Biden administration on Thursday told federal agencies that more employees can return to their offices as the threat of the coronavirus pandemic ebbs, but it also laid out a permanent work-from-home expansion that will drastically alter the federal government's workplace culture.
Federal agencies no longer have to limit the number of staffers allowed in their offices to 25 percent occupancy, the administration said in the first major announcement on pandemic staffing it has issued since January."
Source is todays W. Post, Agencies urged to embrace telework
"Despite nearly 200,000 applications requesting $543 million to cover unpaid rent, just $40 million has been distributed across California, according to state data. Advocacy groups continued to sound alarms, saying the state needs to accelerate the distribution of relief checks or risk a wave of evictions when a state moratorium expires June 30."
https://www.mercurynews.com/2021/06/10/changes-ahead-for-state-rental-relief-program/amp/
https://www.abc12.com/2021/06/09/foreclosureeviction-moratorium-expire-3-weeks/
Latest from the Chair of the SBC:
https://www.npr.org/2021/06/10/1005233221/senator-presses-landlord-over-report-it-evicts-black-renters-at-higher-rates
Next SCOTUS Justice if Justice Breyer retires soon?:
https://amp.usatoday.com/amp/7637441002
https://www.foxbusiness.com/markets/covid-lumber-costs-rep-bruce-westerman.amp
https://www.housingwire.com/articles/fannie-mae-gives-go-ahead-for-digital-verification/amp/
https://abc13.com/amp/betty-harper-woodlands-grandmother-getting-phd-eviction-hud-assistance-for-students/10768949/
https://www.civilbeat.org/2021/06/hawaiis-hot-housing-market-is-squeezing-out-renters/
https://www.washingtonpost.com/climate-solutions/2021/06/08/cool-roofs-cooler-designs-nations-building-industry-embraces-energy-sustainability/?outputType=amp
"Unlike many of the firms they are compared to, executives do not receive any equity-based compensation. They don’t receive stocks or stock options. Bonuses are also out of the question."
Sounds like a Socialist Utopia to me! Why should the Executives be paid more than the cleaning staff, both jobs are important?
Unfortunately you and I know the answer, Will MC'S REPLACEMENT?
I think Bernie or AOC would be a great idea!
https://www.housingwire.com/articles/fhfa-to-review-exec-compensation-at-fannie-freddie/
"As detailed in this HousingWire feature, a string of high-level departures have rocked the housing finance giant in recent months. Many executives have taken positions at other firms where their compensation greatly exceeds what they earned at Fannie Mae.
Freddie Mac has also taken its fair share of C-Suite hits – notably, its CEO David Brickman announced in November he was stepping down.
Sources at the GSEs have told HousingWire that morale is low at the companies, largely because of comparatively low compensation to the private sector but also restrictions and micromanagement from the FHFA.
In its questionnaire, the regulator asks respondents 25 questions to help it evaluate compensation. It asks them to consider compensation whether or not the government-sponsored entities remain in conservatorship.
The question subjects range from bonuses, to return objectives, diversity goals and what companies the GSEs should be compared to.
One question asks whether executives should be “prevented from earning bonuses after exiting conservatorship.” Another wonders if it is a problem that executive officers are not subject to return objectives while in conservatorship.
The request for input also asks how incentive compensation should be tied to diversity and inclusion objectives.
To help the regulator assess how the enterprises’ compensation stacks up to the market, it invited respondents to suggest which companies should be used as comparisons.
The last time FHFA examined the enterprises’ compensation was in 2012. That year, it sharply reduced executive pay, which had already been cut by 40%, and eliminated bonuses altogether. It also imposed a penalty on executives who left prior to scheduled payments.
While the entities are under conservatorship, it must adhere to limits on executive compensation determined by the FHFA. To set compensation, the FHFA compares duties and roles to those at a number of publicly-held and private financial institutions and other financial services companies.
Finding any suitable comparison for the GSEs is difficult, however, given their unique role and federal oversight.
Unlike many of the firms they are compared to, executives do not receive any equity-based compensation. They don’t receive stocks or stock options. Bonuses are also out of the question."
Note to the SCOTUS: Allow these hard working Americans to achieve their full potential by removing the 13 year Government Boot from their necks!
"Because most Federal Employees work on a Monday to Friday schedule, when a holidays falls on a weekend the holiday is observed on the closest regular workday. The holiday is observed on Friday if the holiday falls on Saturday and Monday if the holiday falls on Sunday (5 U.S.C. 6103 (b)(2))."
This year, the 4th of July falls on a Sunday, so I think the 5th of July is when the stock exchanges are closed and the Friday before is typically a crickets day for traders.
So, theoretically it could be released on Friday, July 2nd.
WHO KNOWS?
No one tells these guys what to do, also, it looks like they are at least trying to get to the oldest cases before the newer ones, with the exception of 9-0, 8-1, 7-2, etc.
I HOPE IT'S AS LATE AS POSSIBLE SO I CAN KEEP SCOOPING ME UP SOME SHARES IN THESE 2 FINANCIAL JUGGERNAUTS!
"However, Khater noted, it has yet to translate into lower home prices. A shortage of inventory will likely be a problem for years."
https://www.housingwire.com/articles/mortgage-rates-slip-back-down-to-2-96/
MCLEAN, Va., June 10, 2021 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that the 30-year fixed-rate mortgage (FRM) averaged 2.96 percent.
“The economy is recovering remarkably fast and as pandemic restrictions continue to lift, economic growth will remain strong over the coming months,” said Sam Khater, Freddie Mac’s Chief Economist. “Despite the stronger economy, the housing market is experiencing a slowdown in purchase application activity due to modestly higher mortgage rates. However, it has yet to translate into a weaker home price trajectory because the shortage of inventory continues to cause pricing to remain elevated.”
News Facts
30-year fixed-rate mortgage averaged 2.96 percent with an average 0.7 point for the week ending June 10, 2021, down from last week when it averaged 2.99 percent. A year ago at this time, the 30-year FRM averaged 3.21 percent.
15-year fixed-rate mortgage averaged 2.23 percent with an average 0.6 point, down from last week when it averaged 2.27 percent. A year ago at this time, the 15-year FRM averaged 2.62 percent.
5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.55 percent with an average 0.2 point, down from last week when it averaged 2.64 percent. A year ago at this time, the 5-year ARM averaged 3.10 percent.
The PMMS® is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20 percent down and have excellent credit. Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following link for the Definitions. Borrowers may still pay closing costs which are not included in the survey.
Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders. Since our creation by Congress in 1970, we’ve made housing more accessible and affordable for homebuyers and renters in communities nationwide. We are building a better housing finance system for homebuyers, renters, lenders, investors and taxpayers. Learn more at FreddieMac.com, Twitter @FreddieMac and Freddie Mac’s blog FreddieMac.com/blog.
MEDIA CONTACT:
Angela Waugaman
703-714-0644
Angela_Waugaman@FreddieMac.com
Report from the accountable to NOONE in Government, MC: "Effectively ended the Net Worth Sweep via
negotiations with U.S. Treasury on amendments
to the Preferred Stock Purchase Agreements
(PSPAs), which now allow the Enterprises to
retain earnings until they satisfy the
requirements of the 2020 Enterprise capital rule.
Combined Enterprise leverage reduced from
almost 1,000:1 (approximately $6 billion
supporting $5.5 trillion in total assets) in April
2019 to 159:1 ($41.7 billion supporting $6.6 trillion
in total assets) as of December 2020.1
1 “Enterprise capital” here means net worth setting aside senior preferred shares and liquidation preference."
Source: FHFA Accomplishments 2021
https://www.fhfa.gov/mobile
They really need to do more in the compensation department, otherwise the exodus of talent will continue. Of course if the SCOTUS uses a bulldozer on HERA, that would put the parties back to their pre HERA status, not likely but still a possibility...
5 cases today- some big ones
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Justice Willett
A poster from the SCOTUS BLOG, I'm pretty sure it's not that Justice Willett, but who really knows?
Most Americans think it’s a bad time to buy a home — but there’s one reason they’re still willing to take the plunge
Last Updated: June 8, 2021 at 9:49 a.m. ET
First Published: June 7, 2021 at 12:04 p.m. ET
By Jacob Passy
People’s pessimism toward the housing market has hit a record high, according to a new survey
As Americans' prospects of homeownership dim amid the challenging housing market, people are starting to sour on purchasing a property.
Referenced Symbols
FNMA
+1.27%
Z
-1.49%
ZG
-1.21%
Americans are becoming less optimistic about being able to buy a home — reflecting the significant challenges buyers face in today’s market.
A new report from Fannie Mae FNMA, +1.27% found that only 35% of consumers believe it is a good time to buy a home, representing a record low since the mortgage giant began its survey in 2010. Meanwhile, 67% of Americans believe it is a good time to sell a property.
“Consumers appear to be acutely aware of higher home prices and the low supply of homes, the two reasons cited most frequently for that particular sentiment,” Doug Duncan, Fannie Mae chief economist and senior vice president, said in the report.
Other recent data have reflected how home buyers continue to encounter significant hurdles in making a successful offer on a property. An analysis from Zillow Z, -1.49% ZG, -1.21% found that 47% of homes in the U.S. were on the market less than a week before an offer was accepted, and 76% were on the market for less than a month.
‘The already rushed pace of home buying in the face of limited supply and sky-high demand that has characterized the market since last summer has only intensified.’
“The already rushed pace of home buying in the face of limited supply and sky-high demand that has characterized the market since last summer has only intensified with the onset of this year’s busy spring home shopping season,” the Zillow report noted.
Lower mortgage rates
Other research has shown that the inventory of homes for sale remains near a record low. Amid the fierce competition for homes, that low supply is causing prices to hit record highs. While mortgage rates remain around 3%, economists believe that the economy’s continued recovery from the pandemic will eventually spur rates to move higher, increasing the affordability squeeze.
Fannie Mae’s findings were reported as part of Fannie Mae’s broader Home Purchase Sentiment Index, which measures a range of components to capture the likelihood that people will be inclined to buy a home.
While people’s attitudes toward the housing market itself have soured, other components improved, Fannie Mae reported. And that could help to explain why so many people have remained in the market for a home despite all the challenges they otherwise face.
The number of Americans who believe that mortgage rates will stay where they are now increased over the past month from 33% to 38%. Similarly, the percentage of respondents who are not concerned about losing their job over the next year increased from 80% to 87%, while the component measuring people’s household income also improved.
“Despite the challenging buying conditions, consumers do appear more intent to purchase on their next move, a preference that may be supported by the expectation of continued low mortgage rates, as well as the elevated savings rate during the pandemic, which may have allowed many to afford a down payment,” Duncan said.
Latest from Jim "salt the earth with their carcasses" Parrot (my fav as a pick to replace MC) and the Zand: https://amp.cnn.com/cnn/2021/06/09/perspectives/affordable-housing-shortage-infrastructure/index.html
It's funny because Jimmy is suggesting $300B will solve the affordable housing market deficit, THE SAME AMOUNT ROUGHLY TRANSFERRED SO FAR FROM THE NWS!
https://finance.yahoo.com/news/no-solution-in-sight-as-renters-landlords-face-eviction-cliff-on-june-30-163036876.html
https://finance.yahoo.com/news/asian-american-billionaire-club-swells-113000982.html
https://www.foxbusiness.com/money/homebuyers-great-time-to-buy-housing-bubble-fears-mortgage-billionaire.amp
https://finance.yahoo.com/news/severe-supply-shortage-fuels-hot-housing-market-bof-a-report-171754871.html
https://www.businessreport.com/newsletters/multifamily-real-estate-sector-inventory-outstrips-demand
https://abc11.com/amp/housing-market-nc-houses-homes-for-sale/10766745/
We'll see. I think that the publics perception of the gses may be beginning to morph and soften a little bit from evil banksters and cause of the GFC to one of having a genuine and good function of Secondary Mortgage Market stabilizer (see March 2020). So as the nations housing stock has a deficit of 3.8 million units and the gses can play a role in compatibility with the current administrations goals, I think the 10 year forward period will be brighter than the prior 10 years. The SCOTUS could be an important catalyst, we will just have to wait and see!
I guess it also depends on your investment time horizon, risk tolerance, and the composition of your other holdings when deciding jps v common portfolio allocations.