President Barack Obama tours the home framing assembly area at Erickson Construction in Chandler, Ariz. / AP Photo/Jacquelyn Martin
Arizona Capitol Times
President Barack Obama told an audience at Desert Vista High School in Ahwatukee this afternoon that private capital should play a bigger role in the housing market.
“I know that sounds confusing to people who call me a raging socialist every day,” he said. “I actually believe in the free market.”
Obama said fixing housing will restore not just home values but community values that lead to American upward mobility.
He called for “the end to Fannie Mae and Freddie Mac as we know them” and said while government should play a limited role in housing, “private lending should be the backbone of the housing market.”
In a statement after the speech, Brewer indicated she was skeptical of Obama’s intentions to rely more on free enterprise, saying his plan calls for “even bigger government programs.” She also said policies enacted in Arizona, not Obama’s efforts, have led to the state’s housing recovery.
Related: Obama and Brewer keep their greeting low key this time around (Video)
Obama visits Chandler construction contractor before housing speech
