Issues & AdvocacyFederal

WHERE THEY STAND:

THE CANDIDATES ON THE ISSUES

Housing

By Andrew Goldberg, Managing Director, Government Relations & Outreach

The recovery of the American housing market is vital to the success of the U.S. economy, the financial security of homeowners, and the ability of the design and construction industry to create jobs. With home equity serving as one of the pillars of economic security, the Presidential candidates’ views in addressing the housing market is a crucial component of their policy agendas.

IN THEIR OWN WORDS

ROMNEY. To address steps a potential Romney Administration would take to support growth and stability in the housing sector, Governor Romney published a policy paper titled “Securing the American Dream and the Future of Housing Policy.” The plan intends to “reduce the role of the government and revitalize the private sector’s role in the housing market to end the housing crisis and preserve the American Dream of home-ownership.”

It also calls for the end of “Too-Big-To-Fail” and plans to address Fannie Mae and Freddie Mac. According to the housing policy paper, “a Romney-Ryan Administration will protect taxpayers from additional risk in the future by reforming Fannie Mae and Freddie Mac and provide a long-term, sustainable solution for the future of housing finance reform in our country.”

OBAMA. The President’s campaign has continued to reiterate his support for addressing difficulties in the housing market by “committing to responsibly reform our nation’s broken system of housing finance, including Fannie Mae and Freddie Mac. It is a key sector of our economy, supporting millions of jobs in construction, manufacturing, real estate, finance, and other industries. Moreover, for many Americans, their home is their largest financial investment.” The Treasury Department has stated it intends to pursue “the next step toward responsibly winding down Fannie Mae and Freddie Mac, while continuing to support the necessary process of repair and recovery in the housing market.”

The President anticipates that efforts to wind down the GSE’s will “attract more private funding to the mortgage market” and last year outlined three broad options, ranging from eliminating all government guarantees for mortgages outside of federal programs, to creating a new structure of providing a limited government backstop for some mortgages.

THE AIA’S TAKE

The AIA believes that access to housing is a fundamental right. The AIA supports governmental policies, programs, and incentives to promote the design, construction, renovation and rehabilitation of safe, healthy, and sustainable housing within the means of all Americans. The AIA will work with the White House and Congress to ensure that reforms to the housing finance system ensure that architects have a role in ensuring good design of homes and communities.

We hope you will add your thoughts and comments to the discussion on Facebook. And if you think we missed an important point or facet of the candidates’ platforms, let us know at govaffs@aia.org.

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This content is published by the AIA Government and Community Relations Department, 1735 New York Ave., NW, Washington, DC, 20006. To contact the AIA’s Government & Community Relations team, send an email to govaffs@aia.org.