Bruce Krasting

FDIC, FHA, Fannie and Freddie Real Estate Exposure Killing Home Values in Georgia

Hampton is about 50+ minutes from Atlanta. It is also a place for summer homes. There is a NASCAR facility nearby. People who wrote me tell me it is a nice place. In the scheme of things it is not that significant. But if the Feds start doing this across the country it will be a big deal.

The average mortgage is 200k. Assume the INCREMENTAL cost of dumping these into the market is $10,000. There is a minimum of 4MM of these. I think it is much bigger. My guess is it is 8mm.

That is $80 billion. We could use that money. It is 10% of the deficit.


On Nov 01 09:56 AM the gerald wrote:

> is it possible that the Hampton GA holding is just too small and
> too far away to muck with?
>
> there is question as to how to go about maximizing these sales of
> small value. time may cost more than sale price lost.
>
> how many bodies for how long can be assigned to enhance the sales
> of the 78 houses by say 10 grand.(780,000)?