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Looks like Freddie and Fannie are in trouble. What does this mean to housing market in general?

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Looks like Freddie and Fannie are in trouble. What does this mean to housing market in general? and New Jersey in particular?

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  1. tighter money/higher interest rates/housing will be soft for 3/4 more years


  2. It means that people are going to have a harder time getting a mortgage.  This will be nation  wide.  Those people who have been pre- qualified will need to be re qualified  in order to make sure that they can still buy a home.
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