3rd Fannie Bailout? / Renting your foreclosure

Fannie Mae Reports Massive Q3 Loss, Asks For Another $15 Billion From Government As It Is Set To Become Largest US Landlord

- Isn't the definition of insanity of doing the same thing over and over, but expecting a different result each time? We are going to have to print money to fund this bailout, correct? I see this headline and I see get out of the US dollar.


Fannie to Rent to Owners in Foreclosure

- Again, where is the money coming from? This is good to the person who is deep underwater and can not restructure their mortgage payment. They do not have to move to rent and they do not have to pay property taxes and housing expenses. So, the government is becoming a landlord now?!?! This is good for the bank since it hide the glut of foreclosed homes. This program is good for 12 months. The gov is hoping housing prices will shoot back up in a year.
How can housing go up? They keep on building. The unemployment rate is increasing (the real at is close to 20% if you include disgruntle workers, independent contractors and entrepreneurs.) If people are losing there job they can not buy a house nor can keep paying the high mortgage. Yet, all the people I talk to in AZ think house prices have stabilized. No one was complaining during the boom, but no one like the bust. Well, do not get involved with the boom or be smart enough to sell at the peak of the boom. Speaking of booms, there is not a bubble in gold. Until you here everyone buying and working part part in the business (ala real estate agent license), gold has tons of room to go up. The target is 1oz of gold = the price of the dow jones index. So, once the dow jones bottoms and the price is say 4500, then 1 oz of gold will be worth $4500.