Franklin Raines Quotes

Our economy isn't going to recover until the housing market finds its footing.

The Obama administration deserves credit for quickly ending the housing free fall. In particular, Obama empowered the Federal Housing Administration to ensure that households could find mortgages at low interest rates even during the worst phase of the financial panic.

Once the housing market begins to recover, I would phase out the mortgage tax deduction.

People should buy a house to live in, not as an investment. Property has become such a national obsession - it was the primary subject at dinner parties and how many television shows were dedicated to the market. It's not good for the economy.

We think if the economy remains weak that we could see mortgage rates trail down and we think that we could see rates below seven percent into early next year.

I'm not a housing market expert, and I don't want to pretend to be one.

We just went through the biggest housing bubble in history and now housing prices are starting to go up again. I don’t know what to make of that.

People aren't as impressed by homes anymore after they saw how they collapsed in price with the financial crisis.

In June 2005, mortgage rates were at 40-year lows, and risk premiums on mortgage securities were at all-time lows. Once the banks migrated to the subprime area, there was little else that could be done to send housing prices higher.

The housing market has bottomed. It's not too late to get involved.

If the economy grows, housing gets better, quicker.

I'm telling you that there is no silver bullet to keep home prices from going down or to prevent all foreclosures.

You know, when the cost of capital goes down, when credit becomes cheap, people start taking greater and greater risks.

Small debts are like small shot; they are rattling on every side, and can scarcely be escaped without a wound: great debts are like cannon; of loud noise, but little danger.

Nationally, the share of mortgages that are underwater fell by about one-half between 2011 and 2014.

Buying a home wouldn't make much sense if house prices were likely to decline further; no one wants to catch a falling knife.

A home is a home, and excess supply leads to prices falling.

The two questions that anyone ever asks me are: 'Are house prices going to go down?' and 'Is it a good time to fix my mortgage rate?'

Housing has led our nation's economic expansion over the past few years, accounting for 16 percent of our Gross Domestic Product. New housing starts and home sales hit record levels from 2003 through 2005.

By the late 1980s people realized that houses did not always appreciate and that they could fluctuate like any other market commodity.

The housing market will get worse before it gets better.

Banks may be considered as the primary source of "paper speculation," and only the foster the spirit of gambling in paper, in lands, in canal schemes, town lot schemes, manufacturing schemes and whatever could hit the madness of the day.

Though the principles of the banking trade may appear somewhat abstruse, the practice is capable of being reduced to strict rules. To depart upon any occasion from these rules, in consequence of some flattering speculation of extraordinary gain, is almost always extremely dangerous, and frequently fatal to the banking company which attempts it.

A decline in the national housing price level would need to be substantial to trigger a significant rise in foreclosures.

Housing is a relatively small sector of the economy, and its decline should be self-correcting.