President Obama Sets Sights On Housing Market
This past Tuesday, President Obama visited Arizona to deliver a speech that focused primarily on the housing market, calling it the second cornerstone to strengthen the middle class. Jobs are seen as the first cornerstone and were highlighted by the President last week in Tennessee.
To sum up President Obama’s speech, the Phoenix Business Journal detailed six steps that need to be taken for his plan to be successful. The steps are:
- Congress has to pass bipartisan legislation that would allow homeowners to refinance under today’s low rates
- Loosen tight lending standards
- Immigration system needs to be fixed
- Start rebuilding the neighborhoods impacted the most by the housing crisis
- Provide affordable rental properties
- The end of Fannie Mae and Freddie Mac
Click here for more information about these steps and to view a video from the event.