Fannie Mae – American Voters Want Access to Homeownership Expanded and Believe the Net Worth Sweep is Unfair
On Wednesday, July 13 at 10:00 am EST, Investors Unite Executive Director Tim Pagliara will host a teleconference to brief Investors Unite members and members of the media on key findings from a recent opinion survey on housing in America.
Pagliara will be joined by Douglas E. Schoen, founder and president of Schoen Consulting, who conducted the survey. On the call, Schoen will discuss highlights from the results, which include demographic data, views on homeownership, the 2008 housing crash, and housing policy.
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Of note, the survey found that “seven in ten likely voters (70%) support the government facilitating policies to make mortgages easier and more widely available.” Respondents also weighed in on the Net Worth Sweep of government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac, which were placed in conservatorship in the aftermath of the financial crisis. The survey found that a plurality of likely voters believed the Sweep is a violation of shareholder rights.
Douglas E. Schoen, LLC. conducted interviews with a national sample of 1000 likely voters from June 24th to July 2nd, 2016. This poll assessed housing and mortgage access generally, as well as perceptions and policy preferences about Fannie Mae and Freddie Mac specifically. We found widespread dissatisfaction with access to housing and mortgages in America, and a clear perception that a rigged housing system works against ordinary people who can’t borrow money and have suffered huge carnage from the housing crisis.
The data shows clearly that: 1. Voters believe that the housing status quo is not working, especially for People of Color, and blame banks and the federal government for not supporting policies that advance the interests of homeownership, more affordable housing, more lending. 2. Voters specifically want to see Fannie Mae and Freddie Mac empowered to improve housing access, while protecting investors and shareholders who are expanding mortgage access at a time when people cannot borrow. 3. The housing crisis has been devastating to voters, especially in the South and Northeast, and voters desperately want Congress and the federal government to take action that ensures housing fairness and helps more Americans own homes.
What follows is a summary of our findings.
Full study below