West Texas Common Sense: Feds Should Get Out of Housing!


U.S. Rep. Randy Neugebauer (West Texas)

Inquiring minds’ eyes are upon Texas tonight where another congressman is telling the feds to get out of housing! Texans must know how to vote…first Ron Paul wants to audit the Ferderal Reserve, and now West Texas U.S. Rep. Randy Neugebauer wants the Federal Government out of housing:

…the markets won’t come back as long as there’s a huge inventory of housing no one knows what to do with, Neugebauer said this week in Washington at a conference on housing finance reform.

“A lot of these people, if they’re not making their mortgage payment, they’re probably not paying their taxes, either,” the Lubbock Republican, a former banker, said. “So it’s a compounding impact.”

(…)

Speaking in a new leadership role in financial oversight, Neugebauer focused on dialing down the role of Fannie Mae, Freddie Mac and the Federal Housing Administration while allowing market forces to work in the housing and mortgage industries to heal the economy from the subprime mortgage crisis.

All of the government’s initiatives to keep mortgages out of foreclosure need to stop, he told those attending the University of Maryland’s Smith School of Business conference.

“One of the things I learned very quickly is that markets aren’t kind, but they’re very efficient,” Neugebauer said.

Tip to California…this is the kind of person that should be elected to public office. He seems to actually know about the real world and not just what he saw written on a blackboard in a sociology class.

If Rep. Neugebauer keeps this up, he could be thought of as the Chris Christie of the Southwest!

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