| Before the 2007 housing bust, financial analysts who raised questions about Fannie Mae and Freddie Mac's shaky finances were dismissed as cranks. So it's worrying to see a thoughtful critique of another taxpayer-backed monolith—the Federal Housing Administration—receive a similar brush-off.
The flap centers around an American Enterprise Institute paper "Is FHA the Next Housing Bubble?" by Wharton real-estate finance professor Joseph Gyourko earlier this month.............................................Full Article: Source |