Posts Tagged ‘single family house’
According to a report written by FBR Capital Marketers, government is abandoning what has been considered an epitome of American dream, an idea that everyone (or almost everyone) is entitled at some point to own a single family house.
Congress wants Fannie Mae, Freddie Mac and whatever ends up replacing them to invest more in financing apartment building construction and sales, says FBR Capital Markets’ financial policy group, in a report to clients Monday.
The government’s withdrawal from the dream of home ownership for almost everyone may be bad news for mass-market homebuilders and families trying to buy a first house.
It’s good news for apartment investors such as Morgan Properties, investor Mitchell Morgan’s King of Prussia-based company, the biggest private rental landlord in New Jersey. They’ll be able to build new and buy existing units cheaper, confirms Paul J. Miller Jr., a former Philadelphia Federal Reserve examiner and coauthor of the report.