Stiglitz: Obama, Romney Still Need to Address Housing Market

Stiglitz: Obama, Romney still need to address housing market

(Reuters) – Nobel Prize-winning economist Joseph Stiglitz chided U.S. President Barack Obama and Republican presidential candidate Mitt Romney for not seriously addressing the troubled U.S. housing market during the recent series of presidential debates.

The Columbia University economics professor said in an interview with Reuters TV that the two men have shied away from discussing the uneven U.S. housing market recovery because neither has concrete solutions for helping financially strapped homeowners and both are wary of offending the banks.

“I find that shocking” that neither has talked about housing market issues, Stiglitz told Reuters. “It is one of the things that precipitated the crisis. In some sense, they don’t want to offend the banks … . The banks have been a major problem to doing something about the problem.”

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