As part of its push for more lending reform and programs to increase homeownership and prevent another bubble, the White House presented new data on Monday that credits the last federal housing plan with the recovery of several states’ real-estate markets.
Arizona’s recovery was highlighted by U.S. Department of Housing and Urban Development Secretary Shaun Donovan. The state’s home prices have climbed 19 percent since the worst point of the crash, Donovan said in a conference call.
This month in Phoenix, President Barack Obama announced his latest housing plan, which includes doing away with government-backed mortgage giants Fannie Mae and Freddie Mac, simplifying the lending process for buying and refinancing, and investing in areas hardest hit by foreclosures.
Read more...U.S.: Housing plan aids Arizona
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