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Can also be titled "Prices Soar as Fannie Mae, Freddie Mac to Back Home Loans of Nearly $1M"

• Stubb 5y ago
  Next you're going to claim that non-dischargeable student loans drive up the price of higher education in the US. Crazy talk!
• JKCalhoun 5y ago
  Or "Prices Were Already Soaring Despite Fannie Mae, Freddie Mac Not Backing Home Loans of Nearly $1M" I don't know how wannabe first time home owners are going to catch a break.
  • kipchak 5y ago
    The only thing I can think of is a reintroduction of something like Shotgun Shacks, somewhere in between trailer parks and suburbs. Something like Boxabls, Tiny homes and container homes.
    • WarOnPrivacy 5y ago
      Builders can rake in more cash building mini-mansions. County commissioners are totally on board with that. Our county has a massive homeless population while new housing developments start at 350k. There's been one new apartment complex in the last 25 years.
      • long_time_gone 5y ago
        Most of the "starter homes" in my region were wiped out in the house flipping craze of the early-2000s. They were renovated, added to, and turned into McMansions. The only things built since then are luxury homes in the $600k+ range.
  • runako 5y ago
    > I don't know how wannabe first time home owners are going to catch a break. They will buy in the other 97% of counties where million-dollar loans do not require subsidy. Most states do not contain even a single county that qualifies for the higher Fannie/Freddie limits. Notably, this includes Texas, Illinois, and Georgia. There are entire major metro areas where one can work in tech and buy a house for well under $500k. For example, Atlanta is home to engineering offices for Google, Microsoft, Spotify, and Mailchimp/Intuit and sports a median home value of $349k. This is comfortably affordable to a person making less than $100k.