This hearing will come to order. Today we are joined by the leading voices within the administration on reforming and strengthening our Housing Finance system. The secretary of the treasury and secretary of housing and urban development, both of whom have submitted reform proposals to the president , as well as the director of the federal Housing Finance agency who serves as the regulator conservator of freddie mae and fanny fannie mae and freddie mac. It marks 11 years since the government bailed out and put those where they remain today. Prior to 2008 the Government Sponsored Enterprises held . 45 in capital for every 100 in capital for every 100 in mortgages guaranteed. Now they hold just . 19 after a 200 bailout from taxpayers. 11 years later these systemically Important Companies continue to be too big to fail and are more leverage than they were before the financial crisis. Taxpayers inevitably remain on the hook for the next market downturn. In march pres. Trump signed a memoran
When looking for a place to live a lot comes into play size design neighborhood proximity to work school or to friends and family but often the most decisive factor is price and that depends on supply demand Interest Rates demographic changes geographic location Overall Economic growth you get the picture its complicated but the simple truth is Everyone Needs a place to call home and a combination of those factors i mentioned can make finding a lasting shelter difficult for many our theme for todays edition of made in germany is the housing shortage as youll see its a big problem. Well start right here in berlin its a city with the fastest rising property prices in the world in the early 2000 the cash strapped german capital sold off huge chunks of Public Housing to private interests the dearth of Affordable Housing has only worsened since then berlin has become a battleground between renters Real Estate Investors developers and politicians. Tenants in berlin are fighting for their rig
[inaudible conversations] [inaudible conversations] [inaudible conversations] this hearing will come to order. Today we are joined by the leading voices within the administration on reforming and strengthening our housing and finance system. The secretary of the treasury, and the secretary of housing and urban development, both of whom have just submitted Housing Finance reform for fossils to the president , as was the director of the federal Housing Finance agency who serves as the regulator and conservator of fannie mae and freddie mac. I want to thank each of you for coming to the committee this morning. Last friday marked 11 since the government bailed out and put fannie mae and freddie mac into conservatorship, where they remain today. Prior to 2008, the governmentsponsored Enterprises Held a 45 cents in capital for every 100 in mortgages they guaranteed. Now just 19 cents after a historic 200 billiondollar bailout from taxpayers. 11 years later they continue to be too big to fail
Board with any legal advice. We will also be joined by representatives from the City Department that have cases bf the board this evening. Up front we have scott sanchez, also representing the Planning Department and planning commission. We expect joseph duffy, senior building inspector. And we have leo polosis. And we expect chris buck, urban forest forester. We also expect charles shehan, San Francisco department of environment. And the project manager with the sfmta. The please carry on conversations in the hallway and turn off your devices. Each applicants and respondents are given seven minutes to present their case and three minutes for rebuttals. Members with the public have three minutes each to address the board and no rebuttal. To assist the board in the accurate preparation of minutes, you are asked to submit a Business Card to board staff when you come up to speak. Speaker cards are available on the left side of the podium. Four votes are required to grant an appeal. If you
[inaudible conversations] [inaudible conversations] this hearing will come to order. Today we are joined by the leading voices within the administration on reforming and strengthening our housing and finance system. The secretary of the treasury, and the secretary of housing and urban development, both of whom have just submitted Housing Finance reform for fossils to the president , as was the director of the federal Housing Finance agency who serves as the regulator and conservator of fannie mae and freddie mac. I want to thank each of you for coming to the committee this morning. Last friday marked 11 since the government bailed out and put fannie mae and freddie mac into conservatorship, where they remain today. Prior to 2008, the governmentsponsored Enterprises Held a 45 cents in capital for every 100 in mortgages they guaranteed. Now just 19 cents after a historic 200 billiondollar bailout from taxpayers. 11 years later they continue to be too big to fail and are even more leverag