For the past several years, it’s not been an uncommon sight in Anytown, USA, to drive down the street and see home after home for sale after going through foreclosure.
In pursuit of encouraging the former, the federal government helped produce the latter.
Government intervention by way of Fannie Mae and Freddie Mac may have given more Americans the keys to their own homes, but they bought homes they could not afford and in a marketplace that could not be sustained.
The marriage of the princess with the commoner caused a furore among the royalty.
(a) misalliance (b) mismatch (c) elopement (d) romance cat coachin centres The company’s coffee crop for 1998-99 totalled 8079 tonnes, an all time record.
The company had fixed a target of 8000 tonnes to be realised by the year 2000-01, and this has been achieved two years earlier, thanks to the emphasis laid on the key areas of irrigation, replacement of unproductive coffee bushes, intensive refilling and improved agricultural practices.
It is now our endeavour to reach the target of 10000 tonnes in the year 2001-02.
The trouble with all this, Heritage reports, is that though Fannie Mae and Freddie Mac have made it easier for a family to buy a home, in the long run their actions have a detrimental effect on the economy, as America has witnessed.
So what would happen if Fannie Mae and Freddie Mac were phased out?
Eliminating Fannie Mae and Freddie Mac, in fact, will help more Americans afford homeownership.