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Ed Pinto of the American Enterprise Institute on how Rep. Ryan and Mitt Romney will take on the housing problem.
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For that -- Jeff Flock thank you very much as we move on now to housing and Mitt Romney's attack the current housing prop up policy.
And his new running mate Paul Ryan seems to stand right behind -- they both talked about.
And moving away from a government centered society and we want to talk housing today with that in mind as we bring in American enterprise resident fellow at.
See -- so Romney.
Written Ryan sixty Paul Ryan picked by Mitt Romney tell you about the housing discussion we might have -- in the campaign.
I think it tells me that we're gonna have really focus on the economy and there's nothing more government centered in our economy then the crazy housing finance system that we have.
I've talked to a number of people from Europe and and they tell me oh.
Do Americans think we have a socialist system in Europe and we think you have a free market system the United States.
-- -- -- housing finance system to them they literally their jaws drop and they blush they can't believe that we have such a government standard housing system.
And that just -- problem after problems.
I think governor Romney and ribs and -- Ryan has said.
That Fannie and Freddie in the government policies -- the core of the problem and they're gonna look at how to solve that.
What do you -- the best and -- -- that we talked about earlier I think and teasing your parents that'll Fannie Mae.
Guy writes of what do you think is the best solution here just eliminate.
Those agencies -- to start anew with something different or nothing at all or or what's that the best approach something that can be realistically -- put forward.
The best approach is -- numbers steps step one has to be have to start reducing the loan limits or Fannie Freddie and FHA.
Get FHA back to its mission of helping first time homebuyers and lower income people particularly.
But Fannie Freddie have to be wound down over a period of time right it has be replaced with a private sector.
It is would be a huge mistake to replace them with yet another.
Government guarantee this time when that's explicit rather an implicit that would be huge mistake and finally what about the current state of housing in terms of and I know we've seen some signs -- bouncing back but.
In terms of the Obama administration's policies to try to revive it.
That's just look back with hindsight being twenty twice which you say -- -- a lot of this did not work.
-- porosity -- despray bailout he claims the reason didn't work as it was more focused on Wall Street -- on homeowners and helping them.
But what about their moving away from government involvement.
Is that the way to go and will that hurt homeowners who are still coming down on their locket that if the Romney -- approaches really fully implemented.
I think the approach that will work is a focus on jobs you have to get jobs going that will help.
Support housing number one and number two.
I think you have to get repeal.
Dodd-Frank which is a huge.
A wet blanket on the private sector getting going again along with the footprint of Fannie Freddie and Ginnie.
If you do those things I think the housing market we much healthier will come back.
And it'll help.
-- overall economy the economy -- much stronger than a lot there we kind to scratch the surface today to be honest that we'll have that can tell he's been on.
A million times and I'm sure he'll be back we'll get into this heading its November thank you --
