[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
Hours and 20 minutes. [inaudible conversations] the subcommittee on housing and insurance will come to order. Without objection the chairs other is to declare a resource recess from the anytime. Without objection on members have five legislative days to submit extraneous material to the chair for inclusion in the record. I now recognize myself for five minutes to give an opening statement. Today the subcommittee will hold a hearing to discuss the lack of Affordable Housing in many communities across the country. In particular we will examine governmental barriers as well as marketbased solutions to bring down the cost of housing. Americans spend more in housing than any other household expense representing 33 of that the familys budget. Historically. Families in many areas of the country would love to get back to that level. The rising home prices and rents as far exceeded, as far exceeded the rate of wage growth, so in cincinnati of iowa city once consider affordable to medium home pr
Hours and 20 minutes. [inaudible conversations] the subcommittee on housing and insurance will come to order. Without objection the chairs other is to declare a resource recess from the anytime. Without objection on members have five legislative days to submit extraneous material to the chair for inclusion in the record. I now recognize myself for five minutes to give an opening statement. Today the subcommittee will hold a hearing to discuss the lack of Affordable Housing in many communities across the country. In particular we will examine governmental barriers as well as marketbased solutions to bring down the cost of housing. Americans spend more in housing than any other household expense representing 33 of that the familys budget. Historically. Families in many areas of the country would love to get back to that level. The rising home prices and rents as far exceeded, as far exceeded the rate of wage growth, so in cincinnati of iowa city once consider affordable to medium home pr
Hours and 20 minutes. [inaudible conversations] the subcommittee on housing and insurance will come to order. Without objection the chairs other is to declare a resource recess from the anytime. Without objection on members have five legislative days to submit extraneous material to the chair for inclusion in the record. I now recognize myself for five minutes to give an opening statement. Today the subcommittee will hold a hearing to discuss the lack of Affordable Housing in many communities across the country. In particular we will examine governmental barriers as well as marketbased solutions to bring down the cost of housing. Americans spend more in housing than any other household expense representing 33 of that the familys budget. Historically. Families in many areas of the country would love to get back to that level. The rising home prices and rents as far exceeded, as far exceeded the rate of wage growth, so in cincinnati of iowa city once consider affordable to medium home pr
Hours and 20 minutes. [inaudible conversations] the subcommittee on housing and insurance will come to order. Without objection the chairs other is to declare a resource recess from the anytime. Without objection on members have five legislative days to submit extraneous material to the chair for inclusion in the record. I now recognize myself for five minutes to give an opening statement. Today the subcommittee will hold a hearing to discuss the lack of Affordable Housing in many communities across the country. In particular we will examine governmental barriers as well as marketbased solutions to bring down the cost of housing. Americans spend more in housing than any other household expense representing 33 of that the familys budget. Historically. Families in many areas of the country would love to get back to that level. The rising home prices and rents as far exceeded, as far exceeded the rate of wage growth, so in cincinnati of iowa city once consider affordable to medium home pr