Wait a second, how many government housing programs are there?
If you think that there is overlap and excess between Freddie Mac and Fannie Mae, consider this:
The Government Accountability Office (GAO) has completed a study on the number of government housing assistance programs. And that number is 160! According to the report:
“The federal government plays a major role in providing housing assistance to homebuyers and renters and to state and local governments. It incurred about $170 billion in obligations for federal assistances and forgone tax revenues in FY2010.”
Mortgage News Daily reports that:
“Current fiscal realities raise questions about the efficiency of multiple housing programs and activities across federal agencies with similar goals, products, and delivery systems.”
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Reference:
– GAO report on government sponsored housing programs
– GAO: 160 Entities Involved In Housing Assistance (MND)