Political Quotes

“Mr. Chair, I yield myself such time as I may consume. Mr. Chair, we are in the middle of a housing crisis across the U.S. and in Colorado, especially in the Seventh District. The housing supply is lagging significantly behind the demand in our State which has led to skyrocketing prices pushing far too many people out of the communities that they have lived in their entire lives, as well as creating significant challenges to hire and retain workers for small businesses and public servants. Some communities in the rural part of our district have seen property increase threefold in just a couple of years. While so many people are struggling to get their first home, there are far too many people who are buying up real estate for their third, fourth, and even fifth homes, which has also contributed to the challenges our communities are facing. While I am very concerned about the rising costs of housing, this bill does not address the problem. For a little bit of background, the Federal Housing Finance Agency serves as the chief regulator of the enterprises Fannie Mae and Freddie Mac. Essentially, the FHFA oversees the majority of all mortgages in the United States. Earlier this year, the Financial Services Committee heard from the director, Sandra Thompson, about how the agency is working to help Fannie Mae and Freddie Mac meet capital requirements and promote increased access to homeownership for creditworthy home buyers.…”