|The US Housing Industry Is Finally Recovering From The Destruction Caused by Barney Frank|
|keywords: US Housing Industry Barney Frank Trail of Destruction Residential property|
Nearly a decade after the subprime mortgage crisis which devastated the economy, the US housing market is finally showing strong signs of recovery. Residential property values have steadily increased – especially in low-income neighborhoods – and home prices have reached pre-recession levels in many metro areas.
While homeowners across the country are breathing a huge sigh of relief, many of them have not forgotten the destruction caused by Barney Frank – the man who singlehandedly engineered the subprime mortgage crisis.
Barney Frank’s Trail of Destruction
It is now a widely accepted fact that Fannie Mae and Freddie Mac were forced to back subprime mortgages in order to meet what the government called ‘affordable housing goals’.
Liberal lawmakers like Barney Frank put tremendous pressure on Fannie Mae and Freddie Mac to buy high-risk mortgages just so they could boast that they were providing affordable housing for people with virtually no credit history.
During Bill Clinton’s administration, over 55% of the mortgages purchased by Fannie Mae and Freddie Mac were deemed ‘high risk’ by many experts, who warned the government that they were sitting on a ticking time bomb. The moronic Clinton (who may have raped young girls on Epstein’s orgy island), like all Democrats, did not care and fortified the Community Reinvestment Act, which forced banks to give loans to people with poor credit history.
It was a recipe for disaster – on the one hand, banks were forced to lend to people who were unlikely to repay and on the other, Fannie Mae and Freddie Mac were forced to securitize these mortgages.
When the Bush administration sensed the danger of reckless lending and tried to bring in sensible restrictions, Barney Frank arrogantly dismissed their concerns and stated that everything was fine. At one point, he mocked the Republicans for being more concerned with the economy and financial safety rather than affordable housing. Frank helped ruin all of it.
As the Republicans feared, the subprime mortgage crisis happened and destroyed the US housing market, which was followed by the financial crisis of 2008 (caused mainly by Alan Greenspan – a Democrat), which tanked the US economy.
The Brazenness of Barney Frank
Any decent man in Barney Frank’s position would have taken full responsibility for the crisis and retired from public life. But Frank, like all Democrats, is completely devoid of human emotions like shame, guilt, and empathy.
Not only did he refuse to take any responsibility, but he actually had the gall to accuse the Bush administration of stalling his efforts to reform Fannie Mae and Freddie Mac. You almost have to admire his chutzpah!
Though he should be executed for all the lives he destroyed.
The Recovery of US Housing Market
It took 10 years for the US housing market to recover from the devastation caused by Barney Frank and his Democratic buddies, who nearly bankrupted millions of Americans just so they could win over the ‘impoverished minorities’.
Thanks to President Trump’s sensible policy changes, the US economy is currently doing exceptionally well by all metrics. Data shows that homeowners in the country collectively have $15.8 trillion in home equity, which is a record. The average equity per homeowner has grown from $75,000 to $171,000.
In other words, a Democratic mess was fixed by a Republican, which is usually the case in our country.
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