Wargotz: Mikulski policies Destroying Housing Market
Existing-home sales plunge 27.2%
Annapolis - Eric Wargotz M.D. today criticized Senator Mikulski for existing-home sales plunging a record 27.2% in July. Analysts expected the existing-home sales to plunge 12%. The housing sector is at the center of the longest and deepest recession since the Great Depression and its weakness is holding the economy back. Actions taken by this Congress have completely distorted the housing market. Congress forced Fannie Mae and Freddie Mac to issue loans to people who cannot afford them. Senator Barbara Mikulski supported these actions.
Eric Wargotz M.D. released the following statement on the housing numbers:
"Actions must be taken to restore the housing market. For 34 years, Mikulski has taken actions that have increased government intervention into the housing market. By allowing those who cannot afford houses to buy them, she created a system that resulted in record numbers of home foreclosures. Bigger and more intrusive government is not the answer to every problem facing our nation, and yet that is what Mikulski believes. I support policies that will get Americans back to work which will in turn restore our housing market."
