On Friday morning when the world sees the Treasury Department's 'white paper' on restructuring Fannie Mae and Freddie Mac, citizens may ponder whether President Obama has switched political stripes. As one mortgage analyst told us: "The government is basically walking away from housing — except for FHA." Sources believe that not only will the GSE loan limit fall to $625,500 in the fall, but it will decline by $100,000 each year after that, finally settling in at $417,000. What effect will the White House/Treasury plan have on housing values? Good question, but I would wager that come Saturday (after consumers flock to our website to read the latest), Realtors who are holding open houses most certainly will ask: "Hey, where is everybody?"
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