Hillary Clinton and Donald Trump should face more questions about housing policy, or so says Tim Mayopoulos.
During a wide-ranging fireside chat in New York, the Fannie Mae chief declined to endorse any political candidates, for president or otherwise. But he bemoaned the lack of discussion about housing issues throughout the presidential race in response to a question from the audience.
"What's been striking to me is that despite the fact that we came through a financial crisis that had housing issues at its core, there's really been no discussion about housing policy," he said. "Neither of the candidates has really advanced any strong views or positions around housing policy going forward."
And what would his ideal housing policy address? One of the first issues that he raised, when asked, was the lack of affordable housing to own or to rent nationwide.
"There is no well-coordinated federal, state and local strategy on how to create new affordable housing stock," he said.
Mayopoulos also looked to put to rest myths surrounding millennials' views on housing, noting that they "have the very same aspiration to own homes as previous generations including baby boomers like me."
"Whether they'll be able to deliver on that aspiration is another question," he said, giving a nod to very real concerns regarding earnings potential for young Americans.
Mayopoulos also used the event as an opportunity to take a swipe at conservatorship, saying that it "needs to come to an end at some point." At the same time, he reiterated the importance of Fannie Mae and Freddie Mac to the housing market, arguing that the enterprises make the 30-year fixed-rate mortgage possible.
"I don't weigh into the public policy debate," he said. "Could you have a system without Fannie and Freddie? Of course, many countries do. But there are some unique aspects of the market," he added later.
