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Richard Perry discuss US Economy and Housing

July 29, 2012 | About:
Dheeraj Grover

Dheeraj Grover

18 followers
Richard Perry of Perry Capital discusses his views on US Economy and how it can be given boost with the changes in the mortgage market

Here is what he said:

-- QE3 will not prop the economy or create US jobs

-- Fannie and Fredie use to own 90% of the US mortgages issued to average Americans, that has changed, that is not happening now as they are in conservatorship. That has made it difficult for Americans to get mortgages and is stalling the US mortgage market

-- Government should open the mortgage market again and that will have ancillary impacts economy as it will get engineers back to work, construction worker back to work and that will rev up the Economy

-- Owns preferreds of Fannie and Freddie issued by government right before they took them into conservatorship and are now trading at 7c a dollar

Here is the video:

About the author:

Dheeraj Grover
I am an individual investor with deep interest in the field of value investing. My ideas and thinking is inspired by highly respected value investors like Ben Graham, Warren Buffett, Walter Schloss, Bill Ruane and Tweedy Browne

Rating: 2.8/5 (8 votes)

Comments

superguru
Superguru - 2 years ago
"Fannie and Fredie use to own 90% of the US mortgages issued to average Americans, that has changed, that is not happening now as they are in conservatorship. That has made it difficult for Americans to get mortgages and is stalling the US mortgage market"

I am confused. On ground, in California, I see low inventory and multiple offers for houses and bidding. Mortgages hardly seem to be an issue.

Earlier real estate agents used to send adverts with list of houses for sale. Now they send adverts with list of buyers with approved loans asking if any one wants to sell.

Looks like we live different worlds.

Please leave your comment:


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