Dream Of Universal Home Ownership Realized

Human Events reports:

Jim Angle of Fox News is reporting the joyous news that every taxpayer now owns a house. Several of them, in fact. Fannie Mae and Freddie Mac, now wholly-owned extensions of our popular will through the glorious State, are on the hook for over $300 billion in mortgage guarantees. Ed DeMarco, acting director of the Federal Housing Finance Agency, tells Fox that’s over half the mortgages in the country… and they’re buying the vast majority of the new loans made in the United States. The next time you’re driving through a residential neighborhood, you should be filled to bursting with pride, because you own a piece of every other house you pass.