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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: patron_anejo_por_favor who wrote (270751)	8/24/2010 10:35:24 AM
From: patron_anejo_por_favor	Read Replies (3) \| Respond to of 306849

Looks like the Repigs found the Demorats achilles heel, and are gonna beat on it like a red-headed stepchild from now until November.... marketwatch.com Aug. 24, 2010, 9:19 a.m. EDT Boehner: Geithner and Summers should go 'Virtually' no one in the White House has run a small business: Boehner By Ronald D. Orol, MarketWatch WASHINGTON (MarketWatch) -- President Barack Obama should call for the resignation of both Treasury Secretary Timothy Geithner and Larry Summers, the head of the White House's national economic team, House Minority Leader John Boehner said Tuesday. "President Obama should ask for -- and accept -- the resignations of the remaining members of his economic team, starting with Secretary Geithner and Larry Summers," Boehner (R., Ohio) said in an economic address to the City Club of Cleveland. The comments came as Republicans prepare their economic line of attack ahead of mid-term elections for Congress. In explaining his desire to press for their ouster, Boehner argued that "virtually" no one in the White House has run a small business and created jobs in the private sector. "That lack of real-world, hands-on experience shows in the policies coming out of this Administration," he said. "We have been told that the president's economic team is 'exhausted' -- already, his budget director and his chief economist have moved on or are about to. Clearly, they see the writing on the wall, and the president should too." In his comments, Boehner called on Obama to cancel his plan to impose "job-killing tax hikes on families and small businesses," veto bills that would hurt job creation such as legislation to create a "national energy tax" and limit the costs of a new health care statute. He added that Obama should consider an "aggressive" spending reduction package. The Obama administration isn't in favor of extending Bush administration tax cuts that are targeted toward top earners, although the White House does support continued breaks for middle- and low-income individuals and families. The White House also has admitted that it could use a lame-duck session of Congress to push through carbon emissions legislation. Regarding health care, Boehner said Obama should seek to end a controversial mandate that requires businesses to report to the government any purchases that cost more than $600. Democrats also support removing the rule, though the two parties have clashed over how to do so. See earlier story on small-business tax. "If a landscaper wants to buy a new lawnmower, or a restaurant needs a new ice-maker, they have to report that to the feds. If you're a Mom-and-Pop grocery store, and you buy $1,000 worth of merchandise from 15 different vendors, that's 15 different forms you have to file," Boehner said. "What is the point of making employers and entrepreneurs spend $17 billion to send all this paperwork to Washington, where it's going to cost about $10 billion to log it in and file it away? Talk about overhead."

To: patron_anejo_por_favor who wrote (270751)	8/24/2010 11:45:50 AM
From: joseffy	Read Replies (1) \| Respond to of 306849

OBAMA ADMINISTRATION HOUSING SCORECARD SHOWS CONTINUED PROGRESS IN HOUSING MARKET media-newswire.com Media-Newswire.com) - WASHINGTON - The U.S. Department of Housing and Urban Development ( HUD ) and the U.S. Department of the Treasury today released the August edition of the Obama Administration’s Housing Scorecard ( www.hud.gov/scorecard ), a comprehensive report on the nation’s housing market. In July, housing prices remained level after 30 straight months of decline, while some price predictions have improved. In addition, historic low interest rates continued to promote home affordability and refinancing options for the nation’s families. However, the market remains fragile with foreclosure starts showing a slight increase and serious delinquencies continuing to work through the pipeline. "While there has been some stabilization in the housing market, it remains clear that we have more work ahead," said HUD Assistant Secretary Raphael Bostic. "Through the Obama Administration’s efforts over the past 16 months, we have seen increased price stabilization and improved home affordability for prospective, qualified homebuyers. At the same time, we know that we must continue to provide support to underwater borrowers, unemployed homeowners, and to the nation’s hardest hit neighborhoods." The August Housing Scorecard features key data on the health of the housing market including: Stabilizing housing prices drive improving expectations in some regions. After 30 straight months of decline, home prices have leveled off in the past year; futures indices have shifted upward since January 2009 as signs of recovery continue, although overall housing outlook measures remain mixed. More than twice as many modification arrangements begun compared to foreclosure completions. More than 3.15 million modification arrangements were done from April 2009 through the end of June 2010. This includes more than 1.3 million trial Home Affordable Modification Program ( HAMP ) modifications started, over 472,000 Federal Housing Administration ( FHA ) loss mitigation and early delinquency interventions, and 1.4 million proprietary modifications under HOPE Now. The number of agreements offered continues to more than double foreclosure completions for the same period ( 1.24 million ). More than 4.2 million families have benefited from housing counseling since April 2009. Working with a HUD-approved housing counselor can help borrowers manage debts apart from a mortgage – car payments, credit cards and personal loans, for example – and help them avoid falling into default. More than 37,000 homeowners received a HAMP permanent modification in July. While the pace of program entry has slowed due to upfront documentation requirements in place since June 1, this policy change streamlines the process to help more eligible homeowners convert to a permanent modification. Homeowners in permanent modifications are experiencing a median payment reduction of 36 percent, or more than $500 per month. "HAMP, which represents just one, targeted piece of the Administration’s larger efforts on housing, has so far offered more than a million and half responsible homeowners the chance to modify their mortgages. This program has helped to stabilize a housing market that remains fragile and has redefined the modification standard for the industry – both of which are delivering real benefits to struggling homeowners in communities across the country," said Treasury Assistant Secretary for Financial Stability Herb Allison. "Currently servicers are working through their pending modifications, and while Making Home Affordable works for a number of homeowners, many others are offered other means of avoiding foreclosure. As careful stewards of the scarce resources of the American taxpayer, we see this as prudent progress – and we will keep working to help the Americans hardest hit by this crisis." Data in the scorecard show that the recovery in the housing market continues to remain fragile, with some measures suggesting recovery will take place over time. For example, foreclosure starts went up slightly in July from the previous month, but remain well below July 2009 levels. Foreclosure completions also inched upward as the volume of serious delinquencies continues to work through the pipeline. Each month, the Housing Scorecard incorporates key housing market indicators and highlights the impact of the Administration's unprecedented housing recovery efforts, including assistance to homeowners through the FHA and HAMP. The Obama Administration’s complete Housing Scorecard available at: www.hud.gov/scorecard