President Obama Visits Phoenix: On August 6 Gives a Major Address on Housing.

President Obama speaking

On Tuesday, August 6, President Obama visited Phoenix to make a major announcement on housing policy. Secretary Shaun Donovan and Regional Administrator Ophelia Basgal joined the President, a cadre of political officials, VIPs and hundreds of citizens to hear the remarks. President Obama laid out his vision for a housing system that promotes the American dream of homeownership.

When the President visited Phoenix four years ago, the city housing market was in free fall and getting worse by the day. The Administration immediately took a number of steps to heal the market that helped millions of Americans stay in their homes, save money on their mortgages and turn their communities around. Today, the market is coming back.

But, as President Obama made clear, there is more work to do. It's time to turn the page on an era of housing bubbles and taxpayer bailouts, and build a new housing finance system that will provide secure homeownership for responsible middle class families. He highlighted four important points in his remarks to improve the market: strengthen the housing market, put forward a plan to reform the housing finance system, simplify the home purchase process, and get Congress to move forward on confirming Watt as the new Director of the Federal Housing Finance Agency.

Read Secretary Donovan's Blog (http://blog.hud.gov/index.php/2013/08/06/promoting-the-american-dream-of-homeownership/)

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