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top suburbs

12 month growth
Box Hill
127.02%
Mollymook
82.85%
Brightwaters
79.93%
Cleve
78.13%
Bawley Point
76.2%
Murrays Beach
75.57%
Terranora
70%
Crescent Head
69.38%
Park Ridge South
68.32%
Mollymook Beach
67.09%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
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Obama breathes new life into US FHB market

By Staff Reporter
20 October 2009 | 1 minute read

The Obama administration has launched a new program that will help the depressed US housing market, including state and local housing finance agencies to borrow from the US Treasury.

According to Reuters, the program aims to restart a source of mortgage financing for first time and low income buyers that have been shut out of the market by lending constraints.

"Through this initiative, the administration aims to help... jump start new lending to borrowers who might not otherwise be served and to better support the financing costs of their current programs," US treasury secretary Timothy Geithner said in a statement.

According to the Virginia Housing Development Authority, state and local housing finance agencies have only been able to issue approximately $4 billion in tax exempt bonds, compared to $16 billion annually about two years ago.

Obama breathes new life into US FHB market
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Do you have an industry update?

top suburbs

12 month growth
Box Hill
127.02%
Mollymook
82.85%
Brightwaters
79.93%
Cleve
78.13%
Bawley Point
76.2%
Murrays Beach
75.57%
Terranora
70%
Crescent Head
69.38%
Park Ridge South
68.32%
Mollymook Beach
67.09%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to Newsletter

Ensure you never miss an issue of the Real Estate Business Bulletin.
Enter your email to receive the latest real estate advice and tools to help you sell.