President Barack Obama is coming to metro Phoenix next week to talk about the housing market’s recovery and possibly, according to sources, a new plan to help more people buy homes.
Obama’s visit Wednesday and Thursday comes five years after he announced a plan to combat the nation’s foreclosure crisis at Mesa’s Dobson High School.
Foreclosures were soaring and home prices plummeting in the Phoenix area when Obama presented the $75 billion federal housing plan called Making Home Affordable on Feb. 18, 2009.
Now, foreclosures in the Valley have fallen back to 2007 levels, and home prices are back up to 2004 levels.
Obama will talk about how that housing plan has helped millions of Americans and his new plan to help more own a home, according to the White House.
Comment from Rose Law Group Founder, President and Zoning Attorney Jordan Rose: “I sure hope President Obama is coming the Valley to announce the loosening of FHA loan requirements, as that would do more to help the real estate economy in Arizona than anything.”