What President-Elect Obama Will Do To Improve Housing
Date Published: November 7, 2008
Publisher:
Morningstar
Author: Amy Hoak
Between rising foreclosures and falling home prices, housing issues became a huge concern in the months leading up to the election. As such, they're likely to continue to take priority during President-elect Barack Obama's first term.
"This is really an unprecedented crisis we're in," said Peter Tatian, senior research associate for the Urban Institute, referring to the foreclosure problem and its ripples through Wall Street. "People are still trying to figure out what the size and the nature of the problem is, and how to intervene to solve things."
A full slate of complex housing woes needs to be addressed, from the restructuring of mortgage giants Fannie Mae (FNM) and Freddie Mac (FRE) to the modernization of the Real Estate Settlement and Procedures Act, which governs home sales.
