The Fed Just Flipped | No More Mortgages In America!

62% of ALL Mortgages in America are owned by Fannie and Freddie - Get Ready.. Add me on tiktok @thisisjohnwilliams

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The entire housing market is essentially owned by Fannie Mae and Freddie Mac. They own a collective 62% of all mortgages. They are now no longer purchasing mortgages of condo's nationally! If the building is 30 years old or older or has any pre existing problems or any issues in the past they will not issue backing on your mortgage. This means that if will get harder and hard to obtain financing for your first time purchase of a condo or selling your condo unit. The only option will be to purchase the unit in cash and if this is the case, remember that a lot of your neighbors will not be able to pay for the unit in cash which will impact the HOA fees as well as assessments.

This real estate change across the housing market all throughout america will have a ripple effect across not just condo units but possibly single family houses as well as multi family units. What I think could very likely happen is that other private party mortgage purchasers will be hesitant to take on riskier bets not knowing what the rules and regulations and the pool of buyers will look like in the coming six months, one year or two years.

All this is happening right now at a time with heavy inflation where people want to run out there and acquire as many assets as possible.