Barack Obama

“ As home prices rise, we have to turn the page on the bubble-and-bust mentality that created this mess, and build a housing system that’s rock-solid and rewards responsibility for generations to come. We need to wind down the companies known as Fannie Mae and Freddie Mac, make sure private capital plays a bigger role in the mortgage market, and end the era of expecting a bailout after your pursuit of profit puts the whole country at risk. We need to preserve access to safe and simple mortgages like the 30-year, fixed-rate mortgage. ”

“ And while we’re not where we need to be yet, our housing market is beginning to heal. Home prices and sales are rising. Construction is up. Foreclosures are down. Millions of families have come up for air because they’re no longer underwater on their mortgages.
Now we have to build on this progress. Congress should give every American the chance to refinance at today’s low rates. We should help more qualified families get a mortgage and buy their first home. We should get construction workers back on the job rebuilding communities hit hardest by the crisis. ”

“ This week, I went to Arizona and California, two of the states hit hardest when the housing bubble burst, triggering the recession. All across the country, millions of responsible Americans were hurt badly by the reckless actions of others. ”