And the assets are legally owned by the central banks

The fact that the fed still owns like 17% of US mortgage debt is so insane to me

Even more is owned by freddie mae and fannie mae and what other retarded names they came up with. @Toxic Bitcoiner knows more about it than I do.

Correct. Fannie, Freddie, Ginnie. If you add all 4, it’s ~95% of the US mortgage market. (I don’t keep a live tracker of these numbers, update once or twice a year, could be slightly outdated.)

If they own the fucking homes, what is left to be owned?

The people in them 😳

So there basically isn’t a market of willing lenders for people to finance homes, the whole market is fake

The Bitcoin you put up as speculative attack collateral.

At least they have Netflix

Fake and gay

The only asset that you can still easily take custody of and move around.

There are, it’s just that the MBS that Fannie and Freddie offer are *unofficially* backstopped from default, even though the market assumes they are. Ginnie is explicitly backstopped. So the real issue is a perverse incentive caused by government intervention, which creates an asset bubble…as is tradition. If you’d like to learn more about the nuances of these entities, here’s the latest update from the best person I know on the topic, Alex Pollock.

Thanks

@MAHDOOD you’d like this too. Educational