Obama Housing Scorecard Shows Strength in Recovery
September 17, 2012
The real estate recovery is continuing to show signs of progress. The Obama administration’s Housing Scorecard shows that the number of underwater home owners has declined 11 percent since last year. What’s more, the report shows that home values are returning to levels that were last seen at the beginning of the administration.
The report attributes the gaining strength of the real estate recovery to government programs that have helped struggling home owners and allowed more people to refinance their loans and decrease their monthly mortgage payments. More than half a million home owners have refinanced their loans this year alone through programs like the Home Affordable Refinance Program.
"It is clear that we're making progress. But with so many households still struggling to make ends meet, we have important work ahead," says Erika Poethig, acting assistant secretary for the Department of Housing and Urban Development.
Source: “Obama’s Housing Scorecard,” CNNMoney (Sept. 14, 2012)
Updated: November 23, 2020