Replies to post #487511 on Fannie Mae-No Politics (FNMA)

[trunkmonk]

The middle class would not have existed as it did for decades without it. Let’s hope the current over powered authority keeps their feet on the ground and decide that the greatest generation knew what they were doing and let the GSEs loose with as few changes as possible. People today are morons compared to the unbiased level headed wisdom of our fathers.

[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.

[Pecker9Wood]

Bravo. Someone with sense. But how do you raise a bunch of adults to live within their means.