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Experts Look at Housing Under Obama Administration

In dealing with the nation's housing crisis, observers agree that a new administration could give HUD a chance to shine.

By Sule Aygoren Carranza | Updated on January 26, 2009

[IMGCAP(1)]WASHINGTON, DC-As the new presidential administration settles into its new digs, observers are increasingly speculating what impact Barack Obama’s policies will have on various issues. Among them is the housing market, which is one of the largest factors in the downturn currently plaguing the US.

Recently, the Urban Land Association brought together a group of the nation’s leading housing experts in a roundtable discussion, moderated by John K. McIlwain, ULI’s senior resident fellow and the J. Ronald Terwilliger chair for housing, to talk about the new administration and the potential changes that may come about in the next several years.

Nicolas P. Retsinas, director of the Joint Center for Housing Studies at Harvard University in Cambridge, MA, began by saying that while it isn’t the apocalypse, “the current crisis is one of the largest, deepest and most troubling we’ve had.” He pointed out that for the US Department of Housing and Urban Development, the situation is a bit like déjà vu; the agency was created in 1959 in the midst of an urban crisis, and today, it’s in the middle of a housing crisis.

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