Fannie Mae-No Politics (FNMA)

[IL Padrino]

Exactly! 30 year mortgage is enslaving! But needed and works very well for fiscally responsible folks.

Well, it made itself necessary because once there was a 30 yr mortgage, it automatically inflated the market. My dad bought our house in 79 for $85,000. That house is worth $550,000 today. How is it that the market went up 600% while people's salaries barely doubled since then?

They created the GSEs under the guise of helping people afford homes when all it was was a dubious form of slavery.