Replies to post #776125 on Fannie Mae-No Politics (FNMA)

[Guido2]

Funny you should ask. When my neighbors across the street put their house for sale at $1.5 million earlier this year, I told them their timing was off by over an year due to rising interest rates. They sold it for $1,656,000! The house is 3 BR 2 BA 1,610 sq ft and sits on a 6,500 sq ft lot.

We live roughly 30 miles southeast of San Francisco and 20 miles north of San Jose. The home prices in those two cities is much higher than around here.

[Donotunderstand]

As before - I ask - does a high limit and activity in that zone --- in any way reduce the amount of $ or activity devoted (in the absolute) to middle income working families? I assume not - on absolute dollar basis. If yes somehow - then whoever oversees F and F now and in the future might want to reconsider their high priced home activity. My GUESS is that FNMA makes money on that portion of its book of business and if anything subsidizes the rest of the book