Glenn Hubbard Quotes

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.

I have done a lot of work for affordable housing, rental housing. I understand the rap on me and other liberals is, oh, we push poor people into homeownership. And it's exactly the opposite of the case. We were trying to prevent those kinds of bad loans.

So much value has been lost in the housing market that people are now buying. If there's any activity in the housing market, it's because values have plummeted to such depths that the 47% can now afford to live in a government-purchased house, or something like that.

Indeed, the FHA was born out of the Great Depression, which was also caused in significant part by a foreclosure crisis. Mortgages in the early 1930s were mostly three- to five-year 'bullet' loans, which did not amortize and were due in full at maturity.

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

We don't have to guess what Mitt Romney would have done if he were president. Because he told us. He said we should let foreclosures - and I quote - 'hit the bottom' so the market could - I quote - 'run its course.'

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

More than a quarter of mortgage borrowers are underwater, and 11 percent of all homes are vacant.

Almost a decade removed from the foreclosure crisis that began in 2008, the nation is facing one of the worst affordable-housing shortages in generations.

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

The Seoul city government has been cooperating with the central government to stabilize the housing market, and we plan to brainstorm all possible ways with the government to better counter the issue.

Securities based on risky mortgages are what toppled financial institutions but it was the government that made the mortgages risky in the first place, by making home-ownership statistics the holy grail, for which everything else was to be sacrificed, including commonsense standards for making home loans.

In the past six months, our federal government has devised a dozen strategies to save America's financial markets. Each plan has been more costly, more risky, and less aligned with the principles of our country's free market economy than the last. I am disappointed to say that this latest plan puts all the rest of them to shame.

The biggest culprits in the housing fiasco came from the private sector, and more specifically from a mortgage industry that was out of control.

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

Home ownership was the fig leaf for the rise in subprime lending. But that was really about cash-out refinancings, not buying homes.

Between the Community Redevelopment Act, requiring banks to make what I would call very weak loans, and specific quotas that the Congress imposed on Fannie Mae and Freddie Mac, that created the market demand that really led to the subprime phenomenon.

I opposed the Medicare prescription drug entitlement. I opposed the Wall Street bailout. I opposed the stimulus bill.

Whether it is Obamacare, the stimulus, Wall Street bailouts, the food safety bill - on vote after vote, Bill Nelson has chosen to side with Harry Reid, Nancy Pelosi, and President Obama over the people of Florida.

Millions of Americans were duped by the federal government and the Federal Reserve into buying homes they could not afford and failed to count the cost. When the financial crisis of 2008 hit, they could not keep up the monthly mortgage payments and defaulted.

It is time to move on. House prices won't rise and the economy won't fully engage until more distressed properties are resolved and put back into ordinary use.

But despite historic levels of obstruction, President Obama was able to bring the economy back from the verge of a second Great Depression.

Nobody wants to have in their CV in the upper echelons of the American economic family that they nationalised major banks.

It appears that Wall Street is not acting as a force for economic expansion, providing access to capital for companies that make things. Rather, it seems, Wall Street is using government bailouts to lever up.

When regulations on the housing industry are reasonable, the cost of housing goes down. Regulatory relief is needed to make housing more affordable to more Americans.