(CNN) - The Senate on Thursday confirmed Shaun Donovan to be the new director of the Office of Management and Budget.
The vote was 75-22 to confirm Donovan to become the next budget chief in the cabinet-level position central to the day-to-day running of the federal government.
Washington (CNN) – Housing prices have hit rock bottom and the economic climate is prime to purchase a home, said Housing and Urban Development Secretary Shaun Donovan.
In an interview broadcast Sunday on CNN’s “State of the Union,” Donovan said declining foreclosure rates make him hopeful, adding that it is “very unlikely we see a significant further decline.”
(CNN) – Two of the three candidates running for U.S. Senate in Florida said Sunday that they support the revival of an $8,000 first-time homebuyer tax credit, but the Obama administration’s housing chief said “it’s too early to say” whether it will be offered again.
Housing and Urban Development Secretary Shaun Donovan left the door open to extending the tax credit but said that the White House will be "focused like a laser" on stabilizing the housing market.
“All I can tell you is that we are watching [the housing market] very carefully,” Donovan said. “[…] we're going to do everything we can to make sure that this market stabilizes and recovers."
Republican-turned-independent Florida Gov. Charlie Crist said reviving the tax credit “would be a great lift” that “would stimulate the economy, it would increase home sales in Florida.”
Watch this portion of Ed Henry's interview with Crist, after the jump:
Washington (CNN) - Housing and Urban Development Secretary Shaun Donovan revealed to CNN Friday that the Obama administration plans in coming weeks to launch two initiatives to deal with the crumbling housing market, and he left the door open to also reviving the expired $8,000 tax credit for first-time home buyers that had been propping up the industry.
"We're going to be rolling out an FHA refinancing effort to help borrowers who are under water in their homes get above water," Donovan said in an exclusive interview taped for CNN's "State of the Union with Candy Crowley" on Sunday. "And second, we're launching an emergency homeowners' loan program for unemployed borrowers to be able to stay in their homes."
The swift action being pushed by President Obama's housing chief come in response to awful news in the housing industry this week, starting with Tuesday's revelation that existing home sales hit their lowest level in over a decade, declining by over 27 percent during the month.
Watch key parts of Donovan's interview with Ed Henry, after the jump:
Washington (CNN) - Housing and Urban Development Secretary Shaun Donovan revealed to CNN Friday that the Obama administration plans next week to unveil two new initiatives to deal with the crumbling housing market, and he left the door open to also reviving the expired $8,000 tax credit for first-time home buyers that had been propping up the industry.