Barney Frank: 'I shouldn't be a homeowner'

The chairman of the House Financial Services Committee wields a gavel with jurisdiction over the nation's housing industry. But he's not a homeowner. And he likes it that way.

In a speech Friday to three real estate groups, Rep. Barney Frank (D-Mass.) said that despite having owned condominiums before, he prefers to rent his living space. Or spaces, as it were.

Frank classified himself as a double renter -- he has an apartment in Washington, D.C., and one in Newton, Mass.

"Given my personality and my work demands, I shouldn't be a homeowner," he said.

"I don't want to be in the middle of a committee session and be told the pipes broke or the roof is leaking or this or that. I need when that happens to be able to call somebody and say please fix it and call me when I can come home."

Frank was addressing The National Association of Hispanic Real Estate Professionals, the National Association of Real Estate Brokers, and the Asian Real Estate Association of America.