Real estate and housing probably isn’t something you think about unless you’re in the business of providing mortgages and selling homes or in the process of buying or selling one yourself. But in 2008, America learned that the housing industry is a major block in the foundation of the American economy. The role of Government Sponsored Enterprises Freddie Mac and Fannie Mae; the impact of the “secondary market” and even the process of completing a mortgage loan were suddenly cast into the spotlight and scrutinized.
The fact is that housing, mortgage, real estate, home building…all are vital parts of the American economy. This is an industry that will always exist, whether we all rent, build or buy. So the real question becomes…just how involved should the federal government be? While it can be argued that the industry was underregulated (or undersupervised) before 2008, it can just as easily be argued that the industry has been overregulated since, stifling a market with the potential to help the American economy soar.
Joe Murin has been a part of all aspects of the equation: mortgage lender, settlement services/title insurance; homebuyer; homeseller and President of Ginnie Mae, a wholly-owned government corporation designed to encourage and support those seeking government-backed mortgages such as the VA or FHA loan. Joe has been a consultant, an entrepreneur and an administrator. He’s as comfortable at home with his family in Pittsburgh as he is in a conference room inside the Beltway. With over 40 years in the industry, Joe’s seen just about everything there is to see when it comes to housing and housing policy.
Join us here from time to time to see or hear Joe’s thoughts on the mortgage, housing and real estate industry. Better yet, leave comments and questions (civil and constructive, please!). Let’s start a real conversation about what role the government should have when it comes to putting Americans in homes. Let’s question the American Dream–is it real, or is it contrived? Let’s dicuss the line between free markets and public policy. If we all contribute thoughtfully, something good can definitely come from it.