Phasing out of Federal Support for Large Loans
See http://www.cnbc.com/id/42987471
Wonder what this will do to the high tier prices in Seattle area once the Fannie and her smaller brother pull out of this tier.
...But now Democrats and Republicans agree that the taxpayer should no longer be responsible for homes valued well above the national average, and are about to turn a top slice of the housing market into a testing ground for whether the private mortgage market can once again go it alone. The result, analysts say, will be higher-cost loans and fewer potential buyers for more expensive homes.
Getting the government out of the mortgage business, however, is proving much more difficult than doling out new benefits. As regulators prepare to drop the level at which they will guarantee loans — here in Monterey County, the level will drop by a third to $483,000 — buyers and sellers are wondering why they should be punished simply for living in an expensive region.
Wonder what this will do to the high tier prices in Seattle area once the Fannie and her smaller brother pull out of this tier.