By Bob Silvestri
https://marinpost.org/blog/2024/10/19/unaffordability-part-iii
This is a follow-on to “Paradigm Shift: Rethinking Housing Affordability” and “Addressing the Infill, Low-Income Housing Challenge with Private Capital & the 1031 Exchange Law,” my previous articles on housing affordability challenges.
Priscilla Almodovar, the chief executive of Fannie Mae (the government-backed enterprise that buys one in four residential mortgages in the U.S.), is noted by Marketwatch to be one of the 50 most influential people in the country. Before helming Fannie Mae, she was the head of the New York State Housing Finance Agency during the 2008 housing debacle.
You would think someone of her stature would be able to share some special insight into our housing affordability challenges, other than the tropes and platitudes rampant on social media. But, you would be wrong.
In a recent interview, commenting on what she called a “highly unaffordable” [housing] market, she said she is seeing “things that we’ve never seen before.”
