Not so fast on the Dodd/Frank issue - This horrible Dodd/Frank crap passed because the banks were getting away with packaging junk as bonds and not disclosing material facts. Tranches of horrible Mortgages - Mortgages given to people with FICO scores under 600 and NO down payments.
Next there were no prosecutions of these bankers - protected by both the Dems and Reps.
The housing market will not recover anytime soon - If interest rates go up your monthly house payment goes up and you do not qualify for a loan - unless you cheat and the mortgage lender repackages the load in trenches of bonds that are sold to cities like Detroit to cover their city employ retirement costs
Chicken or egg? Where were the bundled junk bonds/mortgages come from? Fanny and Freddie wrapped their junk with their good mortgages and sold them.
People were making 70 million Freddy which had quotas for mortgages and allowed to throw underwriting out the window due to the Farm Act.
“The housing market will not recover anytime soon -”
What??? The housing market is STRONGER than it has been in 17 yrs.
http://www.cnbc.com/2017/04/24/spring-housing-strongest-sellers-market-ever.html