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Obama About to Announce Housing Plan

Posted by: Tim Halbur

15 February 2009 - 1:00pm

David Axelrod, senior White House aide to President Obama, announced this morning that the President is about to present a new plan for to halt foreclosures and stop falling real estate prices.

"Mr. Obama plans to unveil his housing plan during a visit to Phoenix. As part of his swing through western states, he is set to top in Denver Tuesday, when he will sign the $787 billion economic-stimulus plan just passed by Congress.

Mr. Axelrod provided few details of the housing plan, but said a government investment of $50 billion to $100 billion to fund foreclosure prevention 'is obviously a necessary part.' He promised that the plan would contain 'a lot of aspects.'"

Full Story: Axelrod: Obama Has 'Solid' Housing Plan
Source: The Wall St. Journal, February 15, 2009
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In the long term, removing major urban freeways should be part of a more comprehensive approach to reduce automobile dependency by promoting public transportation and transit-oriented development.
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