Protesters aligned with the Occupy Wall Street movement rallied to help a California family stay in their home. Is this the beginning of an unlikely union between home owners and the movement? Read more about it and other key housing news in this week’s Friday Five.
California family’s fight may show how the Occupy Wall Street movement can benefit home owners.
The presidential candidates let an opportunity slip away during Tuesday’s debates to explain how they would address the nation’s housing problems. The Obama administration hasn’t offered up to many specifics either. Yet housing accounts for more than 15% of the national gross domestic product.
The U.S. Senate adopted a measure that would raise the maximum size of a home loan backed by mortgage companies Fannie Mae, Freddie Mac and the Federal Housing Administration to $729,750.
CNBC Realty Check:Buy a U.S. Home, Get a Visa — But There’s a Catch
A bipartisan group of Senators, including Chuck Schumer (D-NY) and Mike Lee (R-UT), are proposing legislation that would “offer non-immigrant visas to foreigners who buy at least $500,000 worth of residential US real estate. “
Wall Street Journal: U.S. Gambles with Mortgage Retreat
Three years after virtually nationalizing the U.S. mortgage market, the government has embarked on a pullback to see whether private industry picks up the slack. Some people in the housing industry worry that Washington’s move will cause fresh pain in many regions where demand has yet to recover amid the sluggish economy.