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Up on Housing Project Hill, it's either fortune or fame. You must pick one or the other, though neither of them are to be what they claim.

 

Bob Dylan

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Ironically, by transferring the risk of a widespread mortgage default, the government increases the likelihood of a painful crash in the housing market. This is because the special privileges granted to Fannie and Freddie have distorted the housing market by allowing them to attract capital they could not attract under pure market conditions. As a result, capital is diverted from its most productive use into housing. This reduces the efficacy of the entire market and thus reduces the standard of living of all Americans. Despite the long-term damage to the economy inflicted by the government’s interference in the housing market, the government’s policy of diverting capital to other uses creates a short-term boom in housing. Like all artificially-created bubbles, the boom in housing prices cannot last forever. When housing prices fall, homeowners will experience difficulty as their equity is wiped out. Furthermore, the holders of the mortgage debt will also have a loss. These losses will be greater than they would have otherwise been had government policy not actively encouraged over-investment in housing.

 

Ron Paul

 

Virtue has her heroes too
As well as Fame and Fortune.

 

Friedrich von Schiller

 

I had just come back from Nigeria and he asked what I went to do in Nigeria because he had never visited Nigeria and I told him about the historical Badagry project that we are doing in Nigeria and he felt the same way I felt; he felt that the project must be done because it is imperative that we understand what our forefathers and fore mothers went through. He looked forward to the finishing of the project because he wanted to come and see it and I assured him that we would get the project done. The only thing is that when we do finish this project he will not be there physically, but he will be there in spirit."

 

Michael Jackson

 

As to what to do for the housing industry specifically and are there things that you can do to encourage housing: One is, don't try to stop the foreclosure process. Let it run its course and hit the bottom.

 

Mitt Romney

 

Posthumous fame, book fame, nerd fame is not like the good kind of fame. It might last for centuries and let antique egg heads torture the young from the grave, but it just doesn't pay the bills.

 

Laura Penny