[lbo-talk] "Fannie Mae and Freddie Mac are to blame!"

[ken hanly]

 The whole idea of making home ownership available to a larger percentage of  U.S. citizens many of whom would not qualify for mortgages from other lenders. The policy of allowing deductions of mortgage payments from income tax also encourages home ownership. What has buying houses in Canada or Spain got to do with it. I just thought that owning your own home is part of the American Dream and government policies encourage this as a means of ensuring that more and more are stakeholders in the system. Do you think that is incorrect or what?
Actually many Americans do buy houses in Canada. A big problem in Ontario is that U.S. citizens buy cottages and then manage to get Ontario Health Cards and rip off the provincial health care system.   In our village in Manitoba at least one house is owned by a U.S. family who come here for the summer.

Cheers, ken
 

________________________________
From: Jordan Hayes <jmhayes at j-o-r-d-a-n.com>
To: lbo-talk at lbo-talk.org
Sent: Wednesday, October 19, 2011 1:34:28 PM
Subject: Re: [lbo-talk] "Fannie Mae and Freddie Mac are to blame!"

ken hanly writes:


> Of course the whole idea is to show that the American
> dream can become reality and also those who buy homes
> are tied into the system and are stakeholders at the
> same time as bank profits are boosted enormously.

The "whole idea" of what?

Buying houses in Canada or Spain isn't part of the American Dream, is it?

/jordan 
___________________________________
http://mailman.lbo-talk.org/mailman/listinfo/lbo-talk