Lawrence Yun Talks About Fannie & Freddie
National Association of Realtors’ Chief Economist, Lawrence Yun talks about the Freddie & Fannie debacle noting the “confusion in their public mission” between their for-profit motives regarding shareholders possibly conflicting with their public mission of making credit available in times of crisis.
“What the policy makers need to really consider once we go to move past this crisis is to possibly implement some type of counter-cyclical housing policy, make mortgages available in times of crisis and perhaps restrain mortgage credit availability when the market is heating up.”
The video provides a great deal of market data and Yun addresses the backwards nature of Fannie Mae and Freddie Mac:
