Expand Your Education with These Courses from
A Consumer Advocate Approach to Real Estate: Course 1.
A Consumer Advocate Approach to Real Estate & Mortgages: Courses 1 & 2.
BPOs: The Agent's Role in the Valuation Process.
Bundle 1: CIPS Core Course (US Version).
Bundle 1: CIPS Core Courses (Non-US Version).

Obama: ‘Housing Market Is Beginning to Heal…Home Prices Rising at Fastest Pace in 7 Years’

Have a comment on this article? Share on Facebook!

By Zoe Eisenberg

Obama_Phoenix_housingWith the real estate industry soaring hotter than an Arizona August, President Barack Obama visited Phoenix Tuesday to address the recovering state of the U.S. housing market.

The president, speaking to a crowd of about 1,000 at Desert Vista High School in Phoenix’s Ahwatukee area, said owning a home remains the cornerstone of the American Dream, but reforms are needed to make it possible for the middle class. The president outlined steps his administration has taken to shore up the housing market and added steps that would overhaul the nation’s mortgage finance system, including winding down the government-backed Fannie Mae and Freddie Mac, a plan that has bipartisan support on Capitol Hill.

“For too long, these companies were allowed to make big profits buying mortgages, knowing that if their bets went bad, taxpayers would be left holding the bag,” Obama said, also noting, “We’re not where we need to be yet. We have to help first-time home buyers. We’ve got to turn the page on this boom-bust housing cycle that got us into this mess in the first place.”

Obama said action needs to be taken to “make it easier for qualified buyers” to get houses. These included making the popular 30-year-fixed mortgage available to a larger pool of borrowers; he also tied in his plan for immigration reform, which he said will help the housing market and many aspects of the economy.

In a statement released late Tuesday afternoon, NAR President Gary Thomas lauded the president’s remarks, citing their alignment with the trade group’s own outline for housing finance reform.

Continue Reading 1 2 3

Have a comment on this article? Share on Facebook!

Join RISMedia on Twitter and Facebook to connect with us and share your thoughts on this and other topics.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Copyright© 2016 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.

Content on this website is copyrighted and may not be redistributed without express written permission from RISMedia. Access to RISMedia archives and thousands of articles like this, as well as consumer real estate videos, are available through RISMedia's REsource Licensed Content Solutions. Offering the industry’s most comprehensive and affordable content packages. Click here to learn more! http://resource.rismedia.com

Our Latest News >>