politics @lemmy.world MCasq_qsaCJ_234 @lemmy.zip 2mo ago

Harris Says Privatizing Fannie Mae And Freddie Mac Could Add $1,200 To Mortgage Costs: Is She Right?

finance.yahoo.com Harris Says Privatizing Fannie Mae And Freddie Mac Could Add $1,200 To Mortgage Costs: Is She Right?

Vice President Kamala Harris has rolled out several initiatives as part of her housing plan. She wants to incentivize builders to create 3 million units of affordable housing and develop a $25,000 housing credit for first-time homebuyers. Harris's housing goals have been widely dissected by the media, showing that the nationwide housing problem is top of mind for many people.

Harris believes that former president Trump has it all wrong when it comes to solving the housing crunch. In her Aug. 16,2024, political rally, she stated, "If his Project 2025 agenda is put into effect, it will add around $1,200 a year to the typical American mortgage. He's got it backward. We should be doing everything we can to make it more affordable to buy a home, not less."

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Nationalized services do not need a profit motive.

I wish we could slap it through our heads that socialized systems are OK to be lossy. They are paid for through taxation. They do not need to profit off the consumer. Privatization reverses this. It defunds them and moves the cost to the consumper, implementing a profit motive.

There are few simpler concepts.
- This has been argued for years with regards to USPS, but here we are 🤷 you're right, tho, services dont need to make a profit, they need to provide a service.
  
  Honestly convincing the public that privatization is a functional solution to any problem is one of the biggest achievements of right wing propaganda and political action of the 20th/21st century.
  
  I agree totally and this is something I bring up whenever possible. Mixed results but worth it IMO.

31 comments