Falling home prices are really the major reason you are in the situation you are in today, and until we reform the housing system, home values will continue to falter, people will lose money, and this economy will not turn around.
Gary Miller emphasizes the need for housing system reform to improve home values and the economy.
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I have always had a problem with the way they were fundamentally flawed. You had a hybrid situation where the private sector made all the profits, and the taxpayers took all the risk, which was problematic from the beginning.
NAFCU believes that any relief efforts should not bifurcate the industry by asset size and would not support such an approach.
We are starting to see a rebound in the housing market, and that is really important to the economic recovery of this country and for job creation.
Yet, by requiring this Davis-Bacon mandate, we are beating up the price of apartments and condos and townhomes by 20 to 25 percent.
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