This week, Business Roundtable issued a set of principles to reform housing policy, focusing on how construction and development are financed in the United States, encouraging greater participation by private capital and refocusing the public sector’s role.
In releasing BRT’s principles, Alexander Cutler, Chairman and CEO, Eaton Corporation, and Chair of BRT’s Corporate Governance Committee, said:
- “The principles released by Business Roundtable today are the first step in creating a sensible balance between private and public sector involvement in U.S. housing to drive up home ownership rates and put more Americans to work.”
Specifically, BRT’s “Principles for Reform of U.S. House Policy” will support the private mortgage market by:
- Encouraging private lending and investment
- Enhancing standardization and transparency in the mortgage finance market
- Coordinating government action to provide stability and certainty
- Ensuring consistent regulatory oversight and examination to support extension of credit
In addition, the principles offer reform of the Government-Sponsored Enterprises (GSEs) by:
- Reducing taxpayer risk and encourage market-based pricing
- Reducing the GSEs’ Portfolios
- Refocusing the nation’s affordable housing strategy
BRT CEOs believe we must take action immediately to accelerate and sustain the U.S. housing market. Click here to learn more.