The Fed bought $722 billion of mortgages and agency debt when only $686 billion in new mortgages were issued (Ron Paul, companies)

[KRAMERCAT]

In other words, the Federal Reserve alone bought $722 billion of mortgages and agency debt when only $686 billion in new mortgages were issued.

So, through August, the Fed bought more than 100% of the entire supply of new (purchase) mortgages in 2009.

That's not a free housing market; that's a market bought, owned, and sustained by the Federal Reserve's willingness to print up three quarters of a trillion dollars out of thin air.

100% - Federal Reserve Buys More Than 100% of Mortgages Issued in 2009 - Sep. 28, 2009 | Blogs at Chris Martenson - 100%, Chris Martenson's Blog, Federal Reserve, mortgages

[sanrene]

That's not a free housing market; that's a market bought, owned, and sustained by the Federal Reserve's willingness to print up three quarters of a trillion dollars out of thin air.

You are right and they are circling the wagons. Who can force them to come clean?

[KRAMERCAT]

Originally Posted by sanrene

You are right and they are circling the wagons. Who can force them to come clean?

Ron Paul, now that he is actually getting some support.

[spencgr]

That data references, literally, the first months after the 2008 economic crash. The Fed bailed out lots of banks, and companies, including Fannie and Freddie. This included buying up the mortgages. This news isn't new.

[bluesjuke]

OK, where's the money?

[tickyul]

The Fed has committed to being the major player in the mortgage markets.....that is the way it will be from here on out.

Much of the worth of the housing market is based on Fedgov jacking dough into the mortgage markets, and also having many different programs to let totally-unqualified people buy get loans and buy homes.