Obama: Why I cut mortgage insurance rates

By BarScreen Shot 2015-01-08 at 11.06.57 AMack Obama | AZ I See It

Last week, I visited Arizona, one of the states hit hardest by the housing crisis six years ago, and a state that shows how much progress we can make when we focus on the middle class.

Thanks to the hard work of Americans across the country and the steps we took early on to rescue our economy and rebuild it on a new foundation, America is coming back. That’s something I’ll talk about in my annual State of the Union Address later this month — building on the progress we’ve made to make sure that the middle class is the engine that powers America’s prosperity for decades to come.

When I took office, a housing bubble had burst, and families who had done everything right were hurt badly by the irresponsible actions of others. Home values plunged. Foreclosures skyrocketed. Construction workers lost their jobs.


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