Fannie Mae plans to sell nearly 2,500 foreclosed properties to institutional investors who promise to rent them out for several years rather than resell them.
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real estate
Letter from Washington: A flood floor vote, corporate taxation and Herman Cain’s 9-9-9 plan
Heartland Institute Vice President Eli Lehrer discusses the upside of 9-9-9, the downside of taxing corporations and the murky side of the flood insurance reform debate.
On Yards And Turf Wars
Franklin Schneider is fine if you want to don the yoke of home ownership, spend your leisure time cleaning gutters and staining your deck – but for God’s sake, leave him out of it.
The Myth Of Homeownership Wealth Creation
Over the past several decades, politicians in Washington, DC have considered increasing homeownership to be a civic duty. And the reasons seem obvious: It’s the American Dream. It’s the only way low-income families can build wealth. It’s just a good investment every middle-class household should have. Or so we’ve been told.
The National Association of Realtors recently announced that its national median house price for the first quarter of 2011 dropped 4.6 percent from a year ago. Yet, finds Wendell Cox, a review of the major metropolitan area median prices suggests that housing is still more costly relative to incomes than it was before the housing bubble.
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