正文
Fed\'s Hoenig: Mistake To View Housing As Investment Opportunity
http://online.wsj.com/article/BT-CO-20100823-708988.html
DOW JONES NEWSWIRES
OVERLAND PARK, Kansas (Dow Jones)--The troubled U.S. housing market is not a place where Americans should speculate or look to invest, the chief of the Kansas City Federal Reserve said Monday.
If the American people are looking at the housing market to be their investment opportunity, I think they are making a mistake, said Thomas Hoenig, president of Federal Reserve Bank of Kansas City.
The housing market remains burdened by excess supply, a condition that was created by providing financing leverage at levels that were considered nonsense, Hoenig said during testimony at a field hearing by the U.S. House Financial Services Committee\'s oversight and investigations subcommittee in Overland Park, Kan.
Future financing in the housing market, currently in the hands of Congress and the Obama Administration, will require regulatory oversight, he said.
It\'s more than just what do you do with Fannie [Mae] and Freddie [Mac], that\'s hard enough, but it\'s how you\'re going to decide to finance housing in America in the future and what impact it will have on regional community banks, said Hoenig.
http://online.wsj.com/article/BT-CO-20100823-708988.html
DOW JONES NEWSWIRES
OVERLAND PARK, Kansas (Dow Jones)--The troubled U.S. housing market is not a place where Americans should speculate or look to invest, the chief of the Kansas City Federal Reserve said Monday.
If the American people are looking at the housing market to be their investment opportunity, I think they are making a mistake, said Thomas Hoenig, president of Federal Reserve Bank of Kansas City.
The housing market remains burdened by excess supply, a condition that was created by providing financing leverage at levels that were considered nonsense, Hoenig said during testimony at a field hearing by the U.S. House Financial Services Committee\'s oversight and investigations subcommittee in Overland Park, Kan.
Future financing in the housing market, currently in the hands of Congress and the Obama Administration, will require regulatory oversight, he said.
It\'s more than just what do you do with Fannie [Mae] and Freddie [Mac], that\'s hard enough, but it\'s how you\'re going to decide to finance housing in America in the future and what impact it will have on regional community banks, said Hoenig.
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