Munis may play a role in Obama’s housing plan

President Obama’s speech on Febraury 18 regarding foreclosures suggested that there might be a role for municipal bonds, engaging state housing agencies in the process.

The president was quoted saying, “We’re going to work with Fannie and Freddie on other strategies to bolster the mortgage markets, like working with state housing agencies to increase their liquidity, and as we seek to ensure that these institutions continue to perform what is a vital function on behalf of  middle class families, we also need to maintain transparancy and strong oversight so they do so in responsible and effective ways.”  

Details are still thin, but we will be watching to learn what role housing agencies may play in the plan.

For a broader picture of the housing proposal, check out this NYT article:

Obama Housing Plan Tries to Slow Downward Spiral – NYTimes.com.

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Posted in State Budgets, Stimulus Pogram

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