Raines gone, real estate market rocks on

The housing market will continue unscathed despite the departure of the chief executive officer and chief financial officer of Fannie Mae, the country's largest mortgage finance company, industry figures opined.

"Personally, I don't think any one person could have that much influence. I agree with David Lereah (senior vice president of the National Association of Realtors), who says we are still in a housing boom for the next five years nationally," said Michael Godfrey, president of the Bay East Association of Realtors in Pleasanton, Calif.

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