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Fitz-Gerald Group Chairman Keith Fitz-Gerald on the changes needed in the financial sector in an effort to help the housing market recover.
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Apartment rents are rising at the highest rate since 2000 -- seven that's according.
To real estate research firm reais.
And they're gonna push people actually the question I think is what was actually eventually puts people took.
Stop ranting and give back to build America dream of owning a home joining the company now from Portland Oregon.
Keith FitzGerald -- money map press can't you know at least housing numbers of -- promising of -- pending home sells new home sales housing prices.
I dare I say what these -- rising it's it's even more good news.
Well you know I've I view it the other way around I think what that says to me is that millions of Americans are still.
They they still have great trepidation about borrowing any sort of money whatsoever they don't trust the banking system -- shedding -- as far as as fast as they can't.
That's in fact have pushing more people into apartments that did -- -- is going up therefore the prices are still.
But at some point -- isn't there is some sort of collective.
You -- moment -- people -- -- way.
I NL I'm given a landlord all of this and I had zero to show for -- and there's -- house across town I get old -- -- -- smaller monthly payment.
Well I think it under normal circumstances I would agree with you but if you look to -- -- -- you know we're talking about in imminent domain to seize those properties.
I think the same people are in the rental units going to wool -- why wouldn't touch property of the -- put -- government might take it away from if the market goes south.
So this is an indictment first and foremost is saying on the government secondly on base third on home on homeownership.
Absolutely somebody has got to take a loss in this mess in you know this all gain no painful loss of -- that the government continues to come up with in various new private sector supposedly.
I want to invest in is wrong somebody has take a loss in this I don't know where it's gonna occur when it's gonna -- but somebody's gonna get it.
-- what can be done and what can turn this around what can the government say something can the president say something what can kind of turn this around.
That was sort of make people -- -- OK the coast is clear I wanna get back to what used to be the American dream.
Go after the banks make an act responsibly banking should be a boring business this business of trading -- repackaged as securitized in things.
Needs to stop and he's a stop now.
While you don't package that you can't really get the market moving now K have a little healthy jobs market but -- repackaging loans and sell them off the mitigating risk.
Well you know I think -- that's a fair question but you know -- this is really an academic argument at this point did free markets are tremendously GM right now -- -- GM because the government continues to interfere with them.
You don't take.
Lots of money you throw it to people who are spending irresponsibly you take that money redistributed in eventually responsible parties assume -- now whether that's the banking system as we currently know it.
Remains to be seen but the bottom line is that started with the banks it's gonna finish with the banks.
I agree a 1000%.
The more responsibility from the banks and everyone's gonna -- a lot better that's why we love having somebody.
That's lovely appreciate -- -- a great fourth.
