Boehner: Marketplace Solution to Housing Crisis

Monday, 16 May 2011 09:30 AM

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House Speaker John Boehner tells CBS' "Face the Nation," that government programs aimed at preventing mortgage foreclosures have failed, opining that the only real solution to the housing crisis is to wait "until we get our economy moving again," according to a report by CBS News.

boehner, housing, crisis"Over the last couple years, Congress has really set up four programs to help with those mortgage problems," Boehner explained to Harry Smith. "And unfortunately, none of those have worked. And all they've really done is dragged out the length of time for the market to clear the problems."

In March, House Republicans voted to terminate President Barack Obama's  foreclosure prevention program -- the $30 billion Home Affordable Modification Program.

"I was skeptical of these programs when they were approved," Boehner said. "I'm even more skeptical today that there's anything the government can do to resolve these problems."



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