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
Seattle Legalizes Co-Living
A new state law requires all Washington cities to allow co-living facilities in areas zoned for multifamily housing.
NYC Officials Announce Broadway Pedestrianization Project
Two blocks of the marquee street will become mostly car-free public spaces.
Denver's New High-Rise Integrates Vertical Canyon in Architectural Design
Unlike other new builds in Denver, Colorado, a new high-rise reveals a unique “sculptural canyon” running vertically through the facade to foster a sense of community and connection to nature.
Central Ohio Leaders Form Regional Housing Partnership
A new coalition will seek to address growing housing needs and improve affordability by supporting new housing development across the region.
California E-Bike Rebate Program Launches — Again
After a series of fits and starts, CARB says the program will begin accepting applications this month.
Analysis: Localized Upzoning Less Effective
Changing zoning rules for a small number of parcels can increase land values and housing costs without boosting the housing supply.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Caltrans
Heyer Gruel & Associates PA
Caltrans
American Planning Association, Sustainable Communities Division
HUDs Office of Policy Development and Research
HUDs Office of Policy Development and Research
City of Cambridge, Maryland
Newport County Development Council: Connect Greater Newport
Rockdale County Board of Commissioners