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Uncle Sam struggles as biggest seller of homes in buyers’ market

Posted on 05 September 2011

Karen Shaw PetrouFor sale or rent by motivated owner: 248,000 foreclosed homes. The federal government, which has become the nation’s biggest owner of residential properties, is looking for ways to reduce and manage its huge inventory without swamping the real estate market or exposing federal agencies to enormous losses.
Government-run Fannie Mae, Freddie Mac and the Federal Housing Administration now own about a third of the country’s nearly 800,000 foreclosed properties. With that inventory predicted to grow, they are looking for new ways to cope……………………………………….Full Article: Source


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