Inside Report (4)

A big infusion of union pension funds could provide a lot of home mortgages.

So the AFL-CIO is prodding its unions to invest hundreds of millions of dollars of pension-fund reserves in long-term mortgage money for single-family housing. The federation has asked the Securities and Exchange Commission (SEC) to permit a new investment trust that would use funds furnished by many of its 102 affiliate unions.

AFL-CIO sees a double benefit: More mortgages available at lower interest rates and more jobs for union workers in construction and durable goods. A decision from the SEC is expected in three to six months.

You've read  of  free articles. Subscribe to continue.
QR Code to Inside Report (4)
Read this article in
QR Code to Subscription page
Start your subscription today