Frank and O'Reilly Discuss Condos and Social Engineering
It's a short clip (2:24). Bailout Barney actually makes a good point about Fannie Mae condo financing requirements. It's a difficult issue but without some change to existing loan requirements, units will continue to sit unsold. And more existing owners will be forced to sell because of their inability to meet the monthly association fees, which have skyrocketed in some cases due to fewer tenants per building. See where this is headed--another trip back around the recessionary death spiral of foreclosure.