Former HUD Secretary Mel Martinez Weighs in on Housing Recovery
November 13, 2012 | WMFE - Former U.S. Senator and HUD Secretary republican Mel Martinez says he wants President Obama in his second term to try to clear up a tangle of regulations around housing finance. Martinez told a housing recovery forum in Orlando there are several key policy areas that need urgent attention- including access to credit.
Mel Martinez, who served as Orange County Mayor before being tapped by President George W Bush to direct the U.S. Department of Housing and Urban Development, says after the housing bubble there has to be a cautious approach to approving housing loans.
Speaking at an event hosted by the American Action Forum in Orlando Tuesday, Martinez said the federal government should also try to streamline regulations around access to credit, which could encourage banks to lend more.
"In this fragile period of recovery the government has to play a continuing role, but it ought to be a diminishing role and one that ends, and put it in private hands," said Martinez.
Martinez said although the housing market played a part in the recession, he believes it can also help Florida and the US return to prosperity.
The former Senator also wants to reduce the impact of foreclosures, which have hit Florida particularly hard.