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Romney thinks he can fix housing by doing nothing

Mitt Romney says he cares about American families hit hard by the housing crisis, and his plan to give them relief is to boost the economy overall. At a forum in South Carolina, Romney said:

“And so what we’re going to have to do to get the housing market back going, is to do the one thing that America really cries for right now, and that is to get the economy going again … We’ve got to get people back to work, so they can afford homes. And then we’ve got to get our regulatory system to encourage our private sector, our banks to start making loans again, to start providing mortgages.”


Aside from vague references to getting Americans back to work and improving economic conditions, Mitt Romney offers very little in the way of actual proposals. In fact, his public comments often indicate a candidate who’s not particularly concerned about finding real solutions to our housing problems—openly inviting even more foreclosures and leaving middle-class families to figure it out on their own.

Here are a few things Romney said about the housing market recently:

  • ” … don’t try to stop the foreclosure process. Let it run its course and hit the bottom. Allow investors to buy homes, put renters in them, fix the homes up and let it turn around and come back up.” –October 17th, 2011, in Nevada

  • “The key thing for me is let the market do its work. Get the foreclosures washed through the system ... let the market rebound from the bottom that it hits, and get people back into homes.” –October 30th, 2011, in Nevada

  • “Well, the banks are scared to death, of course, because they think that they’re going to go out of business. They’re afraid that if they write all these loans off that they’re going to go broke. So they’re feeling the same thing that you’re feeling, so they just want to pretend like all this is going to get paid so they don’t have to write it off and potentially go out of business themselves.” –January 23rd, 2012, in Florida

  • “Now the banks aren’t bad people, they’re just overwhelmed right now.” –January 24th, 2012, in Florida

  • “But the idea of trying to stop the foreclosure process kept it from occurring, kept the market from bottoming and recovering. You have to let the market work and to let home values recover as a result of that.” –January 31st, 2012, in Florida

  • “If people are looking for someone to promise that they’ll write them a check, that the government will give them money, they should vote for President Obama.” –February 2nd, 2012, in Nevada

Mitt Romney made half of these statements in Nevada, the state with the highest rate of foreclosures in America. Folks across the state who had lost their homes heard a candidate for president tell them he’d sit back and let it happen again.

The Romney housing plan is clear: as president, he would simply get out of the way and tell American families to hope for the best.