Photo Credit: Reuters/Jonathan Ernst
[CAF Note: Now that large corporate entities have accumulated large portfolios of residential real estate, the US will make changes that makes corporate cost of capital a cheaper way to finance residential real estate. This will increase the financial incentives to rent rather than own.]
By Mark Felsenthal and Margaret Chadbourn
President Barack Obama will propose overhauling the U.S. mortgage finance system in a speech on Tuesday, weighing in on a tangled and polarizing problem that was central to the devastating financial crisis in 2007-2009 and that continues to slow the economic recovery, the White House said.
