Crisscrossing the western states that have been impacted the most by foreclosures, President Obama this week promoted new rules for federally guaranteed mortgages. Back in Washington, a group of former U.S. Housing and Urban Development secretaries and members of Congress launched a bipartisan commission to find remedies for the ailing housing market. These headlines and much more in this week’s Friday Five.
Los Angeles Times: Mortgage Refinancing to Get Easier Under Revised U.S. Program
The Obama administration is launching yet another high-profile campaign to shore up the housing market — and with it, the economy — by making it easier for some struggling home owners to refinance underwater mortgage loans at today’s ultra-low interest rates.
National Journal: Bipartisan Housing Commission Launches With Goal for 2013
For the first time since the housing crisis began, a group of Republicans and Democrats are in agreement that fostering a true economic recovery is inextricably linked to the health of the housing market, and they are vowing to create a bipartisan solution. But the group does not plan to offer a proposal until early 2013.
Wall Street Journal Washington Wire: Politics Counts: Why Candidates Can’t Ignore the Housing Mess
If the 2012 campaign is to be about the economy — and every sign certainly points that way — it will be hard to ignore the housing market.
New York Times: Jobs Plan Stalled, Obama to Try New Economic Drive
With his jobs plan stymied in Congress by Republican opposition, President Obama on Monday will begin a series of executive-branch actions to confront housing, education, and other economic problems over the coming months, heralded by a new mantra: “We can’t wait” for lawmakers to act.
Associated Press: Voters with Housing Woes Giving Up on Politicians
Across America, despite the hundreds protesting for limited government or more government action, a broad swath of the middle class hit hard by the crash in housing prices is quietly resigned, given up on seeing any relief — particularly from politicians.