Stabilizing the housing market is the key to economic recovery, and we must continue to use all of the tools at our disposal to ensure that homeowners get the relief that they need.

It has been an honor to be here today and I enjoy serving with each and every one of you.

What I have done is Senator Dodd and I and Lieberman and others who were sponsors of it, we removed the first-time homebuyer qualification.

In 1974, I was a branch manager for a company when the biggest housing crisis prior to this one act took place.

My answer, reluctantly, is, 'Five years or longer, unless Washington does something.'

I appreciate the opportunity to be here. Quite honestly, I have never been on this side of the dais before.

I believe it is important, as we look at the current termination on November 30th, to consider what is going to happen if we do not extend that credit.

I learned a long time ago in Government that legislation is about the art of the possible.

the extension and expansion of the highly successful homebuyer tax credit.

Nobody argues that the tax credit has worked.

We waived that provision for any member of the Armed Services who is deployed overseas, if they are forced to sell because of that deployment.

if we just rearrange the deck chairs, Johnny Isakson, who is probably the most eloquent spokesman of this, in another decade will be up here talking to us about another crisis that has occurred in real estate if we do not change the…