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
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Maui's Vacation Rental Debate Turns Ugly
Verbal attacks, misinformation campaigns and fistfights plague a high-stakes debate to convert thousands of vacation rentals into long-term housing.
Restaurant Patios Were a Pandemic Win — Why Were They so Hard to Keep?
Social distancing requirements and changes in travel patterns prompted cities to pilot new uses for street and sidewalk space. Then it got complicated.
In California Battle of Housing vs. Environment, Housing Just Won
A new state law significantly limits the power of CEQA, an environmental review law that served as a powerful tool for blocking new development.
Boulder Eliminates Parking Minimums Citywide
Officials estimate the cost of building a single underground parking space at up to $100,000.
Orange County, Florida Adopts Largest US “Sprawl Repair” Code
The ‘Orange Code’ seeks to rectify decades of sprawl-inducing, car-oriented development.
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.
Heyer Gruel & Associates PA
JM Goldson LLC
Custer County Colorado
City of Camden Redevelopment Agency
City of Astoria
Transportation Research & Education Center (TREC) at Portland State University
Jefferson Parish Government
Camden Redevelopment Agency
City of Claremont