U.S. government weighs renting federally-owned foreclosed homes
July 22, 2011 03:57PM
The U.S. government is “throwing the kitchen sink” at the housing problem, and specifically the plummeting prices resulting from a glut of foreclosed homes, Wall Street Journal reporter Nick Timiraos said on Fox Business today (see video above). According to Timiraos, the government is weighing selling its abundance of federally-owned foreclosed homes to private investors who agree to rent them. He said rather than sell the homes through Fannie Mae and Freddie Mac and continue to depress housing prices, the government would push the houses into the stronger rental market. The plan, he said, is in the “college seminar phase” — meaning it’s being seriously considered, though the government hasn’t begun the implementation process.