State and Local Housing To Get $35 Billion Boost

wsj.com:

WASHINGTON -- The Obama administration is close to committing as much as $35 billion to help beleaguered state and local housing agencies continue to provide mortgages to low- and moderate-income families, according to administration officials.

Read the whole story: wsj.com

Comments

[BorseGermany]

The disconnect between the problems facing main street and Washington keep widening. For the past year we've heard nothing but talk of regulation, but zero action. What a joke.

good articles... http://www.iamned.com

meanwhile, the stock market is surging and everyone is too busy to counting their money to show any initiative

[Lorianne]

Only $35 billion?
Bush called for $550 billion of our tax dollars for the same purpose.

It was stupid then and it's still stupid.

[marcelle144]

why is all the stimulus money going to various places except to the hard working people who are struggling to make ends meets????? it seems banks, business, etc are getting stimulus money but we're not!! that should be high on the list-getting the American people out of debt, getting their homes back and giving us some money to keep living!!!

[Lorianne]

Two wrongs don't make a right.
Americans need to get out of debt and stay out of debt, period.
Stop living above our means no matter what income level.

[mcmchugh99]

And Republicans should just be ignored on this issue anyway. They never want to do anything for the common people and don't care if they have jobs, housing or health care.

[mcmchugh99]

To me, this is a very good idea and we need more of it--perhaps a federal housing bank, run as a public service, to assist low and moderate income people in paying for their housing. It should be funded by the Federal Reserve.

[JoeBlough]

So low and moderate income people can keep their MacMansions?

[WeeklyKos]

Amerika continues to be run by corporate interests

good articles; http://www.iamned.com

the worst thing is there's nothing we can do about it

[KIVPossum]

Fire up those printing presses again. Let make sure we keep making mortgage loans to people with no ability to repay.

[breakingpoint]

here's the simple solution

take all the investment property, empty houses first, and give it to those who do not have homes.
The economy will boom overnight

let's get the pain over with, just pull the band-aid off.

The system failed, it's still broke. People who trusted in it, like the Madoff scam, lost.
Why do you think, in the shape Bush left this nation in, it should work for you?
Back to the drawing board and this time secure the people and spread the wealth

[SaneBull]

Yay stocks surging on Wall Street. Lets forget about high unemployment, wall street greed & corruption, and heath care reform. Happy days are here again for the rich, while everyone else goes though the same $h1t everyday.

good articles; http://www.iamned.com

Ppl have no money, no heath care, no home, no job, no sanity.

[jason10006]

I hate to say it, but the vast majority of low income people should not buy a house. Its creates such financial inflexibility. There is nothing wrong with renting until you make enough to at least be "moderate" income.

[Lorianne]

They could buy a house if our building/zoning laws were not so screwed up so as to make housing so unaffordable we have to have stupid programs like this one so they can 'own' a house.

People used to be able to build modest houses for themselves without all the red tape we have today.

[Fred Hood]

35 billion??
We have to stop spending such big amounts of money on something that may or may not help. We can not continue to run up debt. Like main street if we are broke and in debt we have to stop spending... The country is broke and our grand kids will still be paying the interest on the debt. Housing is dead I work in the industry and nothing is moving.. But that's the market 35 billion is not going to change the market..