The U.S Is More Socialist Than Denmark with Home Mortgages
Money For the Rest of Us
J. David Stein
4.5 • 1.4K Ratings
🗓️ 30 January 2019
⏱️ 31 minutes
🧾️ Download transcript
Summary
#238 How the U.S. mortgage market differs from the Danish mortgage market. Danish mortgage rates and defaults are lower than the U.S.. and unlike the U.S., the Danish government is not involved in protecting investors against mortgage defaults. This episode also explores how the mortgage broker industry has evolved since the housing crash. Thanks to ShipStation and The Great Courses Plus for sponsoring the episode.
For show notes and more information on this episode click here.
- [0:23] The socialist catastrophe of Venezuela
- [1:42] Who is the most socialist in housing finance? Denmark or the US?
- [2:50] Meet Fannie Mae, Ginnie Mae, and Freddie Mac.
- [11:26] Danish mortgage securitization.
- [15:42] Why Danish borrowers actually pay less.
- [19:32] Who’s liable for the loan and why it makes all the difference.
- [22:09] Why do mortgage brokers exist, and should you use one?
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Transcript
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| 0:00.0 | Welcome to Money for the Rest of Us. This is a personal finance show on Money, How It Works, |
| 0:07.0 | How to Invest It and How to Live Without Worrying About It. |
| 0:10.7 | I'm your host David Stein. Today is episode 238. It's titled about it's |
| 0:14.0 | titled, The U.S. is more socialist than Denmark |
| 0:20.0 | when it comes to home mortgages. |
| 0:23.7 | Last week in the New York Times was a column by Brett Stevens titled, |
| 0:27.6 | Yes, Venezuela is a socialist catastrophe. |
| 0:32.6 | He wrote, conspicuous by its absence in much of the mainstream news coverage of Venezuela's |
| 0:38.2 | political crisis is the word socialism. |
| 0:41.3 | Yes, every sensible observer agrees that Latin America's once richest |
| 0:46.4 | country sitting atop the world's largest proven oil reserves is an economic |
| 0:51.8 | basket case, a humanitarian disaster, a dictatorship whose demise |
| 0:58.2 | cannot come soon enough. |
| 1:00.4 | But socialists? |
| 1:01.8 | Perish the thought. |
| 1:03.6 | On Venezuela, what you're likely to read is that the crisis is the product of corruption, |
| 1:08.8 | cronyism, populism, authoritarianism, resource dependency, U.S. sanctions, and trickery. |
| 1:16.0 | Even the residues of capitalism itself. |
| 1:19.0 | Just don't mention the S word because you know it's working really well in I discussed Venezuela at length in 1.57 title the most important economic question of our time and they're going |
| 1:35.4 | through a huge political crisis right now but that's not the topics of today's |
| 1:41.2 | episode. We want to talk about home mortgages and |
| 1:46.4 | socialism. Alex J Polack, he is Distinguished Senior Fellow of Finance and Insurance at R Street. |
... |
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