James, great analogy. FNMA, government sponsored luxury. For those in the know, these are exciting times.

https://prospect.org/economy/hedge-funds-ultimate-absentee-landlords-fall-preview/

Pepsi challenge; Guess where the next amazing job prospects will be, at what type of other companies, for the currently employed GSE heads. This is a more complex type of revolving door system, but is the same system modeling none the less.

https://www.c-span.org/video/?526456-1/president-trump-addresses-cpac-2023

Licensed appraisers no longer have a vote in their own industry and this is a problem for the entire country. Like moths to a flame, the people went back to treating their homes like an atm machine, the government bureaucrats actively encouraged this over investment in housing, again. Poisonous protectionism at it’s finest. People may just look back a few years from now and say 7% was not all that bad. If there was no federal reserve the political incentive to dole out special interest groups subsidies with other peoples money would simply go away. Lost in the analogs of time are the millions of now long since passed Americans whom warned that every major federal institution we were setting up at the time, would one day result in irreconcilable corruption alongside extreme incompetence. And here we are. Central planning has never worked as intended, and never will either.

Try my brand;
https://www.youtube.com/@RonPaulLibertyReport/videos

In reaction to the made up problem HUD, related parties and some banks are reducing loan and appraisal requirements making it easier for some people to get loans they can’t afford to easily pay. This is their fix to the non-existent problem. They are creating another problem for those homeowners, banks and investors who trade on bundled government backed loans and securities. Same thing happened before the Great Recession. Appraisers were blamed for the made up problem and the resulting Great Recession. They’ll be blamed for the problems caused by the Governments attempt to fix the current made up problem. We’ll be blamed no matter what because it’s easier than fixing the real problem which is the income gap.

Don’t worry though, if this thing collapses, they’ll blame appraisers because they didn’t poke and sniff properties for assignments they never got. 🙂

We should rename hybrids, poke-and-sniff valuation reports.