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Romney Economic Advisor Glenn Hubbard on what is needed to speed up the recovery of the housing market and how Romney would boost the economy if he we...
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And Olsen.
And underwater even hold older are homeowners like it's they're revolting and it is right now happening.
Andy here Romney economic advisors -- -- She's now the president -- and start discovering a dependable voting bloc isn't looking so.
Dependable right now let's pick this apart on the housing front what's really going on here.
One housing the first story of course is the oversupply of housing we had after the bubble we also have the problem of via.
The very slow economy which really makes housing very difficult for many Americans.
And of course many Americans simply can't refinance at these very low interest rates the GSEs have made it very difficult for that to happen.
All right so you -- Arabs that are older homeowners in particular underwater and they -- and that's applies to a lot of folks.
You hear steady improvements it starts and alike and I always target and in -- discusses investment even a steady improvement.
It would take many years to get us back to where we were -- that on so this isn't the sort of like a general rates and all our -- is -- It's a big -- out of his generational hit that it will take several years.
We can get out of it faster if we get a couple of things though one would be to help the economy grow much more rapidly.
And to help the mortgage markets work better so they're more refinancing could happen.
But unfortunately the administration's not interest and either one of those.
-- and what to cure would be if I know you're you advise the governor Romney let's say he becomes president Romney.
And when you and all you know mortgage real words -- UN all like bailouts for housing rescues -- housing.
Our -- -- mortgages for housing what would you do.
-- -- -- -- governor Romney is said his first up is a much stronger economy.
For housing what he would do -- try to that you're -- much more private capital into the housing market currently the government.
Controls most of housing finance.
That's really not -- -- be stable long term so there are important things that can be done that they really start with economic policy.
-- right now you don't wanna get -- -- -- every as the dollar viewers around the advisor and I know we're talking about older homeowners who.
By and -- not all the time have been a reliable block off with the president but now are apparently -- ticked off -- But they don't necessarily run to a guy who's not promising to -- zones were so -- it is it is cure is.
I'm and improve the economy but directly for you right now help for you right now -- Well first of all improve the economy is immediate help for every one I can't really underscore that enough.
Second on the housing situation.
Again getting the GSE -- to improve competition to facilitate refinancing is very important.
The administration simply stood in the way of that.
So.
Let's talk about what governor -- wants to do to help the economy -- talked about this aggressive response on success.
Attacking the president for being against those who have I've I've led -- and improve this country and hired in this country.
What -- -- do.
Is set building decides cutting taxes a lot to.
To get them hiring to get them expanding to get them more competent.
What we have to make it safe and desirable to invest in America again and that means two things.
One on defense some one on offense the one on defense is stop all the policy uncertainty.
That is really dampening investment in job creation.
Probably is many -- as many as two million more jobs can be created in the next eighteen months if we simply -- down the policy and -- Washington.
On offense we really need to make investment in people.
And machines and factories more attractive that is about tax policy but it's also about training.
It's about changes in regulation that's the fourth front of what governor Romney's trying to do.
I'm just stood aside plan but as someone who crunches numbers and I know you maybe don't over incessant calls are you surprised the president is doing as well of these don't.
If the argument is the economy's going on on -- best.
Well I am not a political.
Expert -- pollster.
I do think the very weak economy is something that weighs on the minds of many Americans.
And certainly questions about who do you think -- handle the economy better.
Do tend to go to governor Romney.
They do and did not front arms were covered thank you Columbia University business school dean and much more.
Good seeing you again.
