Harry Reid on the Housing Crisis and the Economic Stimulus

Is the worst behind us? Will the stimulus package help?
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TRANSCRIPT

Question: Is the worst behind us?

Harry Reid: I met with some home builders yesterday from Nevada and around the country. I said, “Is the bottom in the housing market yet?” They said, “No.” We still have a ways to go. The housing market has not reached bottom. That’s not good. We know that the financial markets are still in turmoil. They’ve stabilized a little bit and that’s good. Maybe the rebates that we’ve given will help a little bit. But we have a lot more to do. We have to do something with the housing industry so we don’t have these kinds of problems in the future. I think that we have to recognize that we need a job creating society. I think that one thing that’s out there that should be done and could be done if we had the support of the president is move to alternative energy, renewables--sun, wind, geothermal. We would create millions of new jobs. Not only that, may have an environment that’s cleaner and more pure.