November 2nd, 2010
08:58 AM ET
4 years ago

Obama administration sings new tune on foreclosures

New York (CNNMoney) – The Obama administration is singing a different tune about foreclosures.

A year ago, officials focused on stemming the foreclosure tide. Now they are touting the need for foreclosures to rebuild the housing market.

Last week Phyllis Caldwell, head of the Treasury Department's Homeownership Preservation Office, told a congressional panel that "an important part of ensuring longer-term stability in the market is to enable properties to be resold to families who can afford to purchase them."

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Filed under: Economy • issues • Obama administration
soundoff (7 Responses)
  1. Fair is Fair

    "an important part of ensuring longer-term stability in the market is to enable properties to be resold to families who can afford to purchase them."

    Conservatives have been saying this all along. It only took the Obama administration 2 years to figure it out? Thank God that Americans are finally seeing what a group of rank amateurs this administration is. I do believe I'm beginning to see 2012 from my house.

    November 2, 2010 09:06 am at 9:06 am |
  2. stufit

    No, it could not be, the arrogant, out of touch Obama administration on the wrong course? Somewhere behind this all the SEIU is there. He does't do anything without the SEIU telling him to.

    November 2, 2010 09:40 am at 9:40 am |
  3. It's Me

    "Obama administration sings new tune on foreclosures"
    Because HE has NO CLUE what he wants to do. He goes whichever way the wind blows. One term and out for this one.

    November 2, 2010 09:46 am at 9:46 am |
  4. Rick McDaniel

    Without jobs, who can afford to purchase them?

    The Obama admin, still doesn't have a clue as to priorities, in this economy.

    November 2, 2010 09:47 am at 9:47 am |
  5. terry, va

    Obummie and his band of fools must have completed economics 101. We have been telling him that for 20 months. A dollar short and a day short Obummie. We didn't have time to train you when you went into office and we don't have time to now. Just hide under your desk for the next 2 years and let the repubs run the show. You can go back to community organizing in 2012.

    November 2, 2010 10:18 am at 10:18 am |
  6. Sweep

    They are clueless. Wherever the wind blows is where they land and whatever might give politcal advantage. Well time is up and today the Obama administration is going to get some much needed adult supervision.

    November 2, 2010 10:24 am at 10:24 am |
  7. Gale

    These mixed signals are just one of the reasons people have lost their faith in the Obama administration, if they ever had any in the first place!

    November 2, 2010 10:29 am at 10:29 am |