Greedy Desperate Realtors Crying Again
They're a tad worried that the "stimulus" packages being mulled might not include a way to try and keep the air in overpriced housing, so they're ordering the politicians to raise the loan limits for Federally-mandated programs designed to provide affordable housing.
NAR has been calling on Congress and the administration to increase the loan limits for Fannie Mae and Freddie Mac from the current ceiling of $417,000 to $625,000. “This change will permit more families to enter the housing market by making more mortgages available with lower interest rates.
No, that change would be an affront to common sense and only serve to support ridiculous prices that need to fall. (And it would put taxpayers on the hook when these bigger loans went bad.)
I'll say it again: There isn't a more venal and disreputable trade group in the United States than the National Association of Realtors.