With their share prices dropping and prospects for fresh capitalization remote, there are growing concerns that Fannie Mae and Freddie Mac may be heading for failure, and with it grave repercussions for the entire U.S. economy.
"Shares of Fannie Mae and Freddie Mac continued their freefall on Wall Street today, even as Treasury Secretary Henry M. Paulson Jr. and other federal regulators tried to reassure that the mortgage giants can survive the current economic downturn.
Amid increased speculation that the companies might require a federal bailout or other changes that could undermine the value of their publicly traded stock, Paulson issued a statement saying that "our primary focus is supporting Fannie Mae and Freddie Mac in their current form" -- a remark that seemed to downplay the likelihood of any imminent government intervention.
Important pillars of the nation's housing market, Fannie's and Freddie's ability to weather troubles in the real estate market has been called into question this week on several fronts. With the value of the companies' mortgage-related assets falling and the costs of borrowing on the rise, the Bush administration has begun studying what to do if either of them begins to falter."
FULL STORY: Fannie, Freddie Shares Drop Sharply on Concerns
Depopulation Patterns Get Weird
A recent ranking of “declining” cities heavily features some of the most expensive cities in the country — including New York City and a half-dozen in the San Francisco Bay Area.
California Exodus: Population Drops Below 39 Million
Never mind the 40 million that demographers predicted the Golden State would reach by 2018. The state's population dipped below 39 million to 38.965 million last July, according to Census data released in March, the lowest since 2015.
Chicago to Turn High-Rise Offices into Housing
Four commercial buildings in the Chicago Loop have been approved for redevelopment into housing in a bid to revitalize the city’s downtown post-pandemic.
LA County Receives Reconnecting Communities Grants
Seven grant awards totaling $162 million will be used for planning, capital projects, and regional partnerships to reduce environmental harm and improve access in disadvantaged communities.
Seine Pollution Could Hinder Olympic Swim Events
Events like the triathlon could be impacted if tests continue to reveal high levels of dangerous bacteria in Paris’ famous river.
How Financing Restricts the Rental Housing Market
The way apartment buildings are financed has a major impact on supply and costs.
Licking County
Barrett Planning Group LLC
City of Cleburne
HUD's Office of Policy Development and Research
Mpact Transit + Community
HUD's Office of Policy Development and Research
City of Universal City TX
ULI Northwest Arkansas
City of Laramie, Wyoming
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