In the Mortgage Banker Association’s most recent MBANow video, MBA President and CEO David Stevens discussed the need for the next president to create a new position within the government - Housing Policy Director.
Previously in a blog, Stevens explained the importance of moving on from the housing crisis, saying that the next president should appoint a housing director, and that they would have the opportunity to turn a new page in housing.
In this new video, Stevens explains why a housing policy director is the best option for moving on from the crisis.
“We’re actually on the front edge of what’s going to be a very significant housing crisis, housing challenge,” Stevens said. “We have a shortage of available rental units for renters, we have a delayed buying activity amongst Millennials, a high cost of entry level housing, extraordinary overlapping in the regulatory arena, and this has to be solved in the next administration."
Stevens explained once again that President Barack Obama and his administration focused on pulling the nation out of the worst financial crisis since the Great Depression, but that, “The next administration needs to change.”
That change, however, will require a “special focus,” Stevens said.
So why does Stevens think a housing policy director would be the best solution?
“There are so many institutions and regulators and policy makers involved in housing today, it’s creating an unnatural conflict,” Stevens said.
Stevens said that the other than the White House, there is no other entity with the authority or ability to coordinate everyone.