Feb

27

OFHEO Tosses Out More Regulations

By Chuck

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OFHEO is removing the portfolio caps on Fannie Mae (FNM) and Freddie Mac (FRE) on March 1st.  Is this going to fix anything?  Not really, but they have just thrown more regulations out the window to keep a collapse in the markets from happening.  This is so surreal.  Here’s a table from the Jan. new homes sales data:

JAN NEW HOME SALES TABLE
Jan       Dec        Nov

Sales At Annual Rate   588,000   605,000    630,000
Percent Change          -2.8%     -4.0%     -13.1%
Northeast               52,000    58,000     56,000
Midwest                 73,000    79,000     78,000
South                  321,000   329,000    344,000
West                   142,000   139,000    152,000
Median Price           216,000   225,600    248,800
Mean Price             276,600   274,700    314,200
Houses For Sale        482,000   493,000    502,000
Months of Inventory      9.9       9.5        9.4