The Obama administration is examining ways to pull foreclosed properties off the market and rent them to help stabilize the housing market, according to people familiar with the matter.From this we can deduce that the Obama gang is thinking upright! Now, if they would just figure out that the way to go is STIMULUS GRANTS for DOWNPAYMENTS on homes to needy renters! $20,000 per qualified American family! Barack can rebuild the country with this idea!
While the plans may not advance beyond the concept phase, they are under serious consideration by senior administration officials because rents are rising even as home prices in many hard-hit markets continue to fall due to high foreclosure levels.
Trimming the glut of unsold foreclosed homes on the market is "worth looking at," said Federal Reserve Chairman Ben Bernanke in testimony to Congress last week.