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During Saturdays weekly address, Obama said Congress has delayed taking action on a plan he sent them in February that he says would save homeowners $3,000 a year by refinancing their mortgages at a lower interest rate.
President Obama says the housing market is healing from the housing crisis of 2007 and 2008, and he is encouraging citizens to contact their representatives and urge them to take action when they return from their break in November. In the Republican address, congressional candidate Vernon Parker of Arizona pushed repealing Obamas health care law and touted his partys plan for creating jobs.
Parker also advocated reforming the tax code, saying the Obama administrations economic policies have made it difficult for small businesses to add new jobs. President Obama and Republican presidential candidate Mitt Romney face off Wednesday in the first of three debates ahead of elections on November 6.
Source
when they return from their break in November.
November 17 – 26 House Recess
December 7-10 House Recess
December 14 Target House Adjournment
While ignoring lag time inherent in a deteriorating housing market, RealtyTrac said in a statement that 65 percent of local markets -- 580 out of 919 communities monitored -- were worse off using a five-point grading system than they were four years ago. The firm found 315 of 919 (35 percent) were better off in three out of five categories.
The firm checked average home prices, unemployment, foreclosure inventory, the number of foreclosures initiated by banks (called foreclosure starts) and the percentage of home sales that involved distressed properties, which include bank-seized properties and those in some stage of foreclosure.
In a report released Monday, "Election 2012 Housing Health Check," RealtyTrac said unemployment rates are higher in 90 percent of all counties involved in the study and that "the foreclosure picture is mixed, with slightly more than half of all counties documenting lower foreclosure inventory and fewer foreclosure starts compared to four years ago."
Read more: RealtyTrac says 65 percent of housing markets worse off than 2008 - UPI.com
when they return from their break in November.
isn't this still September ... Reconvene November 17
November 17 26 House Recess
December 7-10 House Recess
December 14 Target House Adjournment
oh,
return November 17, work (9) days then "Recess" - reconvene December 7, work (3) days then "Recess" again and Adjourn for the year (4) days latter December 14 and Reconvene the following year in January -
and they make a six figure salary ... now we know what really motivates Tea Party Republicans.
Housing starts are way up.
Home building is going to lower unemployment next year.
Ben Bernanke has said that the overly stringent lending requirements of banks are hurting the US housing recovery. In a speech, he said the housing market showed signs of recovery but was "far from being out of the woods".
The Federal Reserve chairman said "the pendulum has swung too far" from the easy lending days of the housing boom. While mortgage interest rates have fallen to record lows, he said many borrowers, especially minorities and low earners, could not get a loan.
Mr Bernanke was addressing a summit in Atlanta held by Operation Hope, a charity that provides financial advice to American citizens on middle and low incomes.
'Missing piston'
