Obama to tout housing initiative in hard-hit Arizona
Source: AP-Excite
By JULIE PACE and BOB CHRISTIE
PHOENIX (AP) — Throughout Barack Obama's presidency, Arizona has served as a symbol of the nation's real estate crisis and recovery.
When Obama visited Arizona within weeks of taking office in 2009, the state was among the hardest hit by the housing collapse and the White House was pushing multibillion-dollar programs to save homeowners from foreclosure.
Six years later, Arizona's foreclosure crisis has evaporated. Home prices have soared and are nearing pre-crisis levels.
On Thursday, Obama returns to Arizona seeking to tackle lingering issues and unintended consequences of the recovery. He'll announce a cut in mortgage insurance premiums on Federal Housing Administration loans, a move aimed at attracting new homebuyers.
FULL story at link.
President Barack Obama speaks at the Ford Michigan Assembly Plant in Wayne, Mich., Wednesday, Jan. 7, 2015. Calling the 2009 federal auto bailout a success story, Obama touted steps taken by his administration that he said have brought the economy and U.S. manufacturing roaring back to life. (AP Photo/Paul Sancya)
Read more: http://apnews.excite.com/article/20150108/us--obama-housing-bfca62dec9.html
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