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Monday, September 5, 2011

HOPE DIMS FOR OBAMA HOUSING EFFORTS

I came across this good article about the rock and hard place the Obama administration is in when it comes to jump starting the housing segment of our economy.  The article spells out how and why things have not gone well for new home builders and buyers.

Dim Hope for Obama Housing Efforts

By Stacy Kaper

National Journal


As President Obama grapples with how to jump start the sputtering housing market—which is expected to be part of his address on jobs before Congress next week—a senior Federal Reserve Board member, Elizabeth Duke, is pushing for easing qualifications for mortgage refinancing and converting blocks of bank-owned homes into rental units.



The administration is feeling pressure to improve the housing market to strengthen the economy, but a variety of housing policy experts said on Thursday that because the foreclosure and declining home valuation problem has gone on for so long and become so complicated, Obama is almost destined to disappoint, particularly since so many existing plans have failed to live up to their promises.

“Many Obama ideas are good conceptually. The problem is that they are not effectively implemented,” said Robert Gnaizda, a cofounder of the Berkeley, Calif.-based Greenlining Institute, which advocates fair lending to minorities.

CLICK HERE  to read the rest of her article.

2 comments:

William said...

Let's all hope that Obama's hopes are dim for re-election.

Las Vegas Foreclosure said...

Shut down fannie and freddie, get rid of the Dodd Frank bull, er bill and lay off small businesses and banks, maybe resign and things will get better.