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U.S. government stresses fixing ailing property market

Posted on 14 October 2011

The housing bubble bursting several years ago left a “terrible legacy” of mortgage failures for homeowners and financial agencies, and the U.S. government would continue fixing the sagging property market, a senior Treasury official said on Thursday.
“We think there is an opportunity to address the backlog of unsold homes by creating a process for moving real estate owned by the government to new private owners, with a particular interest in creating rental options, as we see more demand right now for home rentals than home sales,” Mary Miller, assistant U.S. Treasury Secretary, said to the CFA Institute in Boston……………………………………….Full Article: Source


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