Thursday, October 27, 2011

Romney Quote on Mortgages

I earlier posted about Mitt Romney taking heat for getting it right on mortgages. I neglected to include his quote. He is responding to the question of what should be done about housing and foreclosures.
"One is, don't try and stop the foreclosure process. Let it run its course and hit the bottom. Allow investors to buy homes, put renters in them, fix the homes up. Let it turn around and come back up. The Obama Administration has slow-walked the foreclosure processes that have long existed, and as a result we still have a foreclosure overhang."
Anyone who doesn't think that is the swiftest way for the market to recover should demand their tuition back for their economics classes at Columbia and Harvard. If they took economics, because we don't know; there is no transcript available.

1 comment:

  1. Yeah.

    Won't happen, because too many folks feel entitled to places they thought were worth a lot more, but it would drain the wound.

    Heaven forbid-- young families might be able to afford houses.