Views On Government Financial Plan

Date October 12, 2008

Here’s what a few housing and mortgage leaders are saying about the government’s plan designed to revive our financial system.

Jerry Howard, CEO of the National Association of Home Builders: "The plan must get to the heart of the problem to successfully stabilize mortgage markets and home prices and restore confidence in global financial markets. Ensuring that credit-worthy home buyers, builders and other small businesses have access to credit is absolutely essential to putting this economy back on track."

John Courson, chief operating officer of the Mortgage Bankers Association: "The broad steps outlined by Treasury are aimed at ending the further meltdown in the financial markets and are designed to minimize the resulting impact of the market turmoil on the economy. It’s another step in the long-term process of restoring a balance between the supply and demand for housing in a number of markets and thus addressing the continuing problem of mortgage delinquencies and foreclosures."

Dennis Torres, director of real estate operations, Pepperdine University: "I do not expect the Federal bailout to help the real estate market or homeowners very much. Any positive affect will be mostly to businesses in general and not the real estate market specifically. Don’t look for anything significant to happen in real estate other than further decline. We are in for several flat years of pain before it gets better."

 

Category Posted in Lending, Real Estate

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