Sunday April 5, 2020

Obama gambles $275bn on housing

The president must convince the diligent that foreclosures would hurt them too, writes Niall Stanage in New York

21st February, 2009

Just one day after signing a $787 billion economic stimulus package into law last week, President Barack Obama turned his attention directly to the housing crisis - and committed another $275 billion of taxpayers’ money in an effort to solve the problem.

About 10 percent of mortgages in the US are either delinquent or have already entered the foreclosure process. If that trend were to continue, the consequences would be dismal, with six million families at...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader

Trial

€1

Unlimited Access for 1 Month

Then €19.99 a month after the offer period.

Get basic
*New subscribers only
You can cancel any time.

Annual

€200

€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.

Quarterly

€55

€42

90 Day Pass

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Share this post

Related Stories

The best writing and and the biggest stories of 2019 from the Business Post

Richie Oakley | 3 months ago

Denis O’Brien is back in court, residents continue to fight the Council on halting site and a row surfaces in government over rent control proposals

Leanna Byrne | 4 years ago