Housing Market More Unsound Today Than Before The Financial Crisis: Larry Fink

From Bloomberg, "BlackRock’s Fink Says Housing Structure More Unsound Now" by Christopher Condon and Mary Childs:

BlackRock Inc. (BLK)’s Chief Executive Officer Laurence D. Fink said the U.S. housing market is “structurally more unsound” today than before the financial crisis because it depends more on government-backed mortgage companies such as Fannie Mae and Freddie Mac.

"We’re more dependent on Fannie and Freddie than we were before the crisis," Fink said today at a conference held by the Investment Company Institute in Washington, noting that he was one of the first Freddie Mac bond traders on Wall Street.