IPFS News Link • Federal Reserve
Why Are Your Children Buying Houses for Ben Bernanke?
• freemansperspective.comHere are facts:
The average US house sells for about $300,000, and the Federal Reserve is buying $40 Billion dollars’ worth of mortgages per month. (If that sounds like a bunch of numerical gobbledegook to you, please hang on for just a moment.)
The Fed has been very public about this, by the way. They explain that they are purchasing “mortgage-backed securities” (for your safety, of course), and they surround the discussion in financial-speak. But, in the end, they are buying houses, plain and simple. It’s all there, for those who wish to check.
Now, here are those numbers:
$40,000,000,000 per month, divided by $300,000 per house = 133,333 houses per month.