By Bill O'Neil
Big Changes--the word from a bipartisan panel--which is out with recommendations on what it said the country's housing market should look like in the future.
Among those taking part in the panel is former Housing and Urban Development Secretary--and one-time San Antonio Mayor Henry Cisneros--who told 550 KTSA News one of the biggest changes would be the elimination of Fannie Mae and Freddie Mac.
Big Changes--the word from a bipartisan panel--which is out with recommendations on what it said the country's housing market should look like in the future.
Among those taking part in the panel is former Housing and Urban Development Secretary--and one-time San Antonio Mayor Henry Cisneros--who told 550 KTSA News one of the biggest changes would be the elimination of Fannie Mae and Freddie Mac.
"That way is more private sector capital and less government. So the taxpayers are not on the hook 
when the system breaks down--as it did with Fannie Mae and Freddie Mac" Cisneros said. Another recommendation calls for a renewed focus on rentals.
when the system breaks down--as it did with Fannie Mae and Freddie Mac" Cisneros said. Another recommendation calls for a renewed focus on rentals.
"Jobs are much more mobile today. Young people don't want to be tied down because the next job may be in another city, and they'll not be able to sell thier home--or they'll catch the cycle wrong--and find themselves losing money" Cisneros said.
Still another recommendation centers around keeping older people in their homes longer.
"Take out some of the stairways with ramps for example, or change the lighting so they can get up during the middle of the night, or lower some of the bathroom fixtures" Cisneros said.
As for a timetable, Cisneros said implementing such changes can take years--with eliminating Fannie Mae and Freddie Mac taking up to ten years to complete.
Still another recommendation centers around keeping older people in their homes longer.
"Take out some of the stairways with ramps for example, or change the lighting so they can get up during the middle of the night, or lower some of the bathroom fixtures" Cisneros said.
As for a timetable, Cisneros said implementing such changes can take years--with eliminating Fannie Mae and Freddie Mac taking up to ten years to complete.
Photos: washingtonpost.com; money.cnn.com
