How Gov’t pressured Fannie Mae into Current Credit Debacle
Did you know that the failure of Fannie Mae didn’t happen just over nite!. As far back as Sept 30, 1999, the New York Times wrote an article warning about how easing the lending requirements for housing could lead to trouble in an economic downtown. To read the full NYT article click on the following link: NYT article Sept 1999.
Why do I bring this up, because in early 2005 here in Denver Colorado area real estate practitioners started feeling the effects of the sub prime loans. Many others felt this was “The sky is falling” scenario. It proved to be otherwise, soon the rest of the nation followed and experienced what we experienced.
The good news today! In the county I work in, the foreclosure filings are less this year then last year 2007. If you like go to www.billfung.com and click on Market Data for select cities to see what’s happening now.
In the next blog I will give you some foreclosure filing statistics and trends so you can see how the market is in the Arapahoe County area of Denver Colorado Metro area. Arapahoe county Covers parts Aurora, Centennial, Englewood, Foxfield and Littleton.