June 08, 2012
– Comments (4)
I'm not a huge Schiff fan in general, but agree with him 100% on FHA.
My only critisicm is that he doesn't know how to dumb everything down enough to talk to congress, though admittedly it's sad that that's necessary.
I have to admit he makes a good point about pointing out the lobbyists. However it doesn't change my viewpoint that he is a loon ;p
They got Schiffed!!!
I wish I could place an options contract on that vote. It is clear many representatives don't even believe in the free market or understand how it more accurately prices risk.
Schiff never said it directly, but the free market would make fewer, though more secure, multi-unit loans without federal loan guarantees. He never had them, but he would have lost them for sure at "fewer".
At the very least, Schiff should have pointed out that this proposal crosses the line from promoting single-family home ownership into the realm of real estate investment.
He could also have mentioned that the 11% unoccupied single-family units and shadow inventory will only sell at a slower rate if the proposal is passed.