July 18, 2024

Housing Bust

Being in the front lines of the residential real estate market for many years it’s always been quite clear to me that it was government policies that precipitated the housing bust. Talking with many Californians about the disaster in the real estate market, it would seem that many have a short-term memory deficiency.

It was the Democrats who controlled both the House and the Senate for the last two years of President Bush’s term. I believe there were at least five separate occasions where President Bush or his administration officials called for an investigation of Fannie Mae and Freddie Mac.

Now I’m sure there are many diehard Democrats out there who dispute these facts. But, luckily C-SPAN was recording a number of hearings during that time. Take a look at this video and decide for yourself where the truth lies.

httpv://www.youtube.com/watch?v=_MGT_cSi7Rs

San Diego home loans