[karibear]

Anyone feel like hazarding a guess as to what the federal take-over is going to do to OK real estate?

[Synopsis]

I have no idea. Maybe GP or Schousse would venture an opinion.

[_redbird_]

Don't know either, but the few dealings I had with Fannie Mae *(with student loans, not realty) make me wish them well burning in hades for all eternity. They (the person who I dealt with) treated people like crap.

[Goodpasture]

Overall I would imagine it will bring a lot of stability to the market. That Fannie and Freddie were both mismanaged has been apparent for years. That their portfolios were weak was also apparent. The Fed takeover is going to stabilize it, provide additional capital, and hopefully improved management.

The fact is, the economy in Oklahoma is really strong, we did not have the explosive inflation experienced elsewhere and thus won't have the debilitating crash.

The reasons I view the economy as being strong, is that we have a relatively low cost of living, we have numerous base industries that were developed when oil crashed in the 80's, we now have a resurgence in oil....both in exploration and recycling stripper wells. Many of the wells that were capped 30 years ago (when oil was selling for $8 a barrel) due to only producing a barrel or two of oil per day are being reworked and brought back on line. With current technology, they are actually producing even more oil than they were when they were capped. We have a serious shortage of drilling rigs. I know a guy who had bought several in the 80's at auction for $0.10 on the dollar, who has them leased out for the next several years.......his only regret is not having bought more. One of the local Vo-Tech's is offering young men free tuition if they will take oilfield technological courses......paid for by the oil companies.

So, we have a renewed availability of credit from Fannie and Freddie, we have a strong economy............we are going to have a great decade ahead of us.