Lois Romano of the Washington Post recently interviewed U.S. Department of Housing and Urban Development Secretary Shaun Donovan as part of their “Voices of Power” series about his critical leadership role, specifically at time when the housing woes of our nation are impacting nearly every facet of our lives.
In the interview, Romano notes the importance of rental housing, saying, “part of the reason we got into this mess is because bankers were telling some people that they could own a home and offering them these unreasonable rates.”
When Romano asks Donovan if he thinks every American should be a homeowner, the Secretary stresses the importance of getting back to basics and says, “Not every American wants to be, nor should be, a homeowner. We shouldn’t make loans to people when we know they can’t afford them. We shouldn’t set people up for failure by having rates that increase dramatically.”
To view this interview in its entirety, please watch the video below.
If you would like to read the transcript from this interview, please Click Here.