Special Report19.2.2009

President Barack Obama on the U.S. plan to pump $ 75 billion in the ailing housing market to help millions of Americans who are affected by the mortgage crisis to remain in their homes.
The plan aims to control the crisis of the ownership of banks to their homes because of failure to pay real estate loans
The U.S. faced a million home-owners of the banks brought the issues of last year, and may increase this number to 10 million in the coming years in the event of continuing economic stagnation according to a Swiss bank Credit Suisse,
Obama said in a speech prepared for delivery at the state of Arizona has been published in advance that the plan include pumping 75 billion dollars in the housing sector to assist the nine million Americans stay in their homes
Arizona, Obama has chosen to announce the plan because it is one of the most crisis-hit U.S. housing.
The larger-than-expected plan, which aims to help borrowers whose debts amount to more than the real value of their homes now, and to assist homeowners who are facing the possibility of restoring the banks owning their homes because they have failed to pay real estate debt.
The initiative will help the five million homeowners to pay their loans in addition to giving real incentives to banks to help four million more homeowners at risk of re-possession of their. homes, banks
Obama said during the signing in Denver, Colorado on Tuesday to spur an economic plan approved by Congress last week of 787 billion dollars must be to prevent an aggravation of the crisis in the possession of banks and the decline in house prices of houses and do everything possible to keep homeowners in their homes
The housing crisis in the United States in the heart of the financial crisis and credit beyond the limits of the United States to hit the economies of the world.
And stresses the housing crisis, exacerbated by new figures released by the Commerce Department reported Wednesday that the rate of building houses and building new housing fell last month by 16.8% compared to the previous month to 466 thousand units compared with 530 thousand in the previous forecasts of analysts.
The figures also showed that the number of applications for building, which is a measure of future construction activity also declined by 4.8% to 521 thousand units, a slightly lower than analyst expectations.
The number of new housing in 2008 to 906,200 units, the lowest since 1991, compared with 1.36 million in 2007 .
These figures suggest that the continuing weakness of the housing sector in the United States, under the worst economic crisis since the Second World War.
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