Trump's unlawful crypto grift is going to crash the housing market

[douglas9]

Remember 2008, when the housing market crashed? If you thought that was fun, you’re going to love the Trump administration’s latest move.

Federal Housing Finance Agency Director William Pulte just ordered Fannie Mae and Freddie Mac to treat cryptocurrency—a volatile and largely unregulated mess—as an asset when evaluating whether to purchase mortgages from banks.

Freddie Mac and Fannie Mae support about 70% of the mortgages in the country. They don’t issue loans but instead buy up home loans and package them into mortgage-backed securities, which are then sold to private investors. Freddie Mac and Fannie Mae then guarantee payments to those investors if the mortgage holder defaults.

You can see where this is going.

Freddie Mac and Fannie Mae are likely going to have to issue loans to people partly based on their cryptocurrency holdings. So when the cryptocurrency market collapses and homebuyers default on loans, Freddie and Fannie will have to cover the resulting losses.


https://www.dailykos.com/stories/2025/6/27/2330270/-Trump-s-unlawful-crypto-grift-is-going-to-crash-the-housing-market?pm_campaign=blog&pm_medium=rss&pm_source=main

[WhiteTara]

1. yikes! k&r

[Ilsa]

2. Oh, no worries! After all, the net worth of most of

the middle class is tied to their home value and equity. A crash will just make it easier for the big real estate people to swoop in and buy up affordable housing to keep the poor working until they drop dead

People like trump are as rancid as a wet nutria's ass that's been vomited up by an alligator on a scorching Louisiana highway in August.