Rick Santorum Quotes

Remnants of the foreclosure crisis linger everywhere.

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

House prices just soared beyond - beyond reason in many places and they got financed in silly ways, and people lied about loans, all kinds of accesses entered into it. But that is what - that is the single biggest cause of why we're here.

People really feel that, when they go to the gas pump now, that the oil cartel is holding them by the legs and tipping them upside down and shaking money out of their pockets.

The housing market will get worse before it gets better.

Gasoline prices are soaring through the stratosphere, and the Federal Trade Commission, which is supposed to be standing up for the consumer, ought to stop playing footsie with the oil companies and take steps to protect the American people.

When we went crazy, and we did go crazy on residential real estate, it set things in motion that just - the dominoes started toppling.

We got a lot of excellent people and businesses from Bear and WaMu. But Bear definitely was more painful. WaMu got us into Florida, California, and other states, which was a huge benefit - to expand and grow and add middle-market, private banking, investment banking, and other products, too.

What caused the economic collapse 2008? It was the subprime mortgage crisis.

I would say the biggest single cause was we had an incredible residential real estate bubble.

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.

You know, oil prices from 2007, on the strength of a very robust global economy and a very robust emerging China, many of you will recall, ramped up to near $150 a barrel. Then we had the financial - U.S. financial collapse. Oil prices collapsed all the way down to $40 a barrel.

If the Administration does nothing, high gasoline prices will continue to increasingly burden our economy, taking millions of dollars out of the hands of families and putting it straight into the pockets of OPEC.

It's Obama's bad luck that he got elected just as the mayhem of the foreclosures, the banking collapse, and the General Motors disaster was accelerating the surge in unemployment to warp speed.

There is plenty of blame to go around for the U.S. housing bubble, but not much of it belongs to Fannie Mae and Freddie Mac. The two giant housing-finance institutions made many mistakes over the decades, some of them real whoppers, but causing house prices to soar and then crater during the past decade weren't among them.

It took us years to get into the mess that we got ourselves in at the end of 2008, and it's going to take a while to get us out. We lost eight million jobs, we saw a financial system near collapse, we have a continuing housing crisis that we're making progress on dealing with.

Money in property is dead money. It doesn't help the country. It's funny how the U.K., Ireland and Spain are the most property-obsessed nations in Europe and yet are also the ones suffering the most.

Mr. Speaker, high natural gas prices and the summer spike in gasoline prices serve as a stark reminder that the path to energy independence is a long and arduous one.

The reason gas prices are so high is because the oil is in Texas and Oklahoma and all the dipsticks are in Washington.

The rise in world oil prices has been larger than anyone forecast.

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

What happened in 2008 stopped people in their tracks. People stopped looking at their homes simply as commodities to exploit and starting thinking about how they might personalise that space and make them less bland and more autobiographical, and that's healthy, I think.

The crisis and recession have led to very low interest rates, it is true, but these events have also destroyed jobs, hamstrung economic growth and led to sharp declines in the values of many homes and businesses.

Too-easy credit and millions of bad loans made during the U.S. housing bubble paved the way for the financial calamity and Great Recession that followed. Today, by contrast, credit is too tight. Mortgage loans are particularly hard to get, creating a problem for the housing market and the broader economy.