Obama Urges Mortgage Overhaul, Housing Reforms

President Barack Obama called for mortgage reforms in a speech on housing Tuesday in Phoenix, touting his proposals as bulwarks against the sort of conditions that set the stage for the 2008 economic collapse. "As home prices rise, we can’t just re-inflate a housing bubble," he said. "We'll make owning a home a symbol of responsibility, not speculation — a source of security for generations to come." Obama also took aim at Republicans in Congress for what he called their "slash and burn" tactics and accused them of "scoring political points" and proffering an "endless parade of distractions" instead of tackling economic issues. "If we stay focused on middle-class security and opportunities to get into the middle class," he continued, "then we will secure that better bargain for all Americans, where hard work is once again rewarded by a shot at the middle class." His comments came after he earlier toured an Erickson Construction home framing assembly area.

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