Fri, 23 October 2020
265: Former Senior VP of Community Lending at Fannie Mae & National Low Income Housing Coalition NLIHC Barry Zigas
Jason Hartman talks with Barry Zigas, Senior Fellow at Consumer Federation of America. Barry shares a brief, descriptive history lesson on how Fannie Mae and Freddie Mac came to be. Barry and Jason discuss the low and middle-income housing crisis and what factors contribute to homeownership rates.
Barry Zigas joins Jason Hartman to discuss student loans compared to home loans. Is this similar to a problem we’ve seen in the recent past? How does the shortage of affordable new homes drive inflation?
[1:00] Fannie Mae and Freddie Mac were both created by acts of congress.
[4:30] Is the Fannie Mae/Freddie Mac mission to increase homeownership?
[6:20] Let’s talk about global home ownership comparisons.
[11:00] What factors contribute to homeownership rates?
[12:15] There’s still discrimination in the mortgage markets.
[14:30] Redlining is a term defined as a percentage of non-white people living in a community.
[16:45] How much of the community reinvestment act is to blame for the great recession?
[21:00] Student loans compared to home loans, is this a perpetual problem?
[24:00] There’s a tremendous shortage of affordable new homes to buy, which is part of what’s driving inflation.
[27:20] San Francisco, what caused its high prices throughout history, and will that change from COVID-19?
[34:00] COVID-19 has employment implications, which will translate to housing implications.