Incumbent and Opponent Express Views on Housing

September 28, 2012 / Russell Legato, Residential Property Analyst

You may say jobs first and housing second. The truth is they are closely intertwined. When more people are working, more potential homeowners will be approved for mortgages. Conversely, when more people are approved for mortgages, more existing homes will be sold and more real estate agents will be working. Therefore, the presidential candidates & housing plans they propose must be clearly outlined.

Incumbent and Opponent Express Views on Housing

President Obama and Mr. Romney will you please step up to the podium and tell the public what you plan to do to promote the construction and real estate industry. Give us some idea of what you have in mind. One candidate’s camp says it best. According to them, what has been done during Obama’s time in office is better than nothing. Perhaps more of the same is the best way to proceed.

As voters continue to worry about the recovery, those who are undecided may base their vote on this topic and how each candidate will handle it. The silence is not what they want to hear. Each criticizes the other without offering a replacement plan. It remains up to others to predict where each one stands on the topic.

The Las Vegas Review-Journal reported Romney wants to try not stopping the foreclosure process. What does he mean? Does he mean anything relevant? He wants to cut federal aid to all government programs and allow the free market to run its course. Another report has him saying he may abolish HUD. This seems to coincide with his negative opinion on that 47 percent of the population who rely on some type of government money.

Funny, nothing was said about abolishing subsidies to the millionaire farmers who are paid NOT to grow certain crops. Apparently, they are in the “preferred half” of the population. If so, why are they receiving government money? Romney’s political advisors must be developing ulcers over many of his plans, or lack thereof. His disdain for nearly half of the American people does not show compassion for those less fortunate members of the population.

Obama did not contribute to the housing crisis, it was handed to him on inauguration day. True, he has not achieved a stunning recovery. However, he has taken action. His efforts did meet with some success. Considering the extent of the disaster originating with the banking industry’s loose lending policies, maybe he has achieved more than anyone else could have done.

While Romney advocates less governmental restrictions on the banks and Wall Street, those two entities cheer quietly.  Remember these are the guys who held a luxuriously enhanced convention in Hawaii immediately following the government handout they received in the form of a bailout. Let there be regulations to prevent a rerun of the bankers giving loans to folks who had no hope of being able to afford them over time.

Presidential candidates & housing are prominent topics on the minds of the American people. We want to hear the opinions and plans of both Obama and Romney. Perhaps during the upcoming debate they will address this urgent topic.

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