Downturn In Housing Market Update

On this website is a story on how Citigroup bank is going to put in effect it plan to help unemployed homeowners keep their home. The plan or program is called Homeowner Unemployment Assistance Program. This program is going to lower the monthly payments of some homeowner’s average mortgage payment to $500 a month. It will only be lowered to this average for three months.

This article contains information on how the Stimulus Bill will help fix the economy by fixing the housing market. It will include substantial affordable housing investments. In this story it shows how the $300 million dollars of the stimulus bill will go to help out Minnesota


This website expresses it feeling on hoping that the market will bounce back from Monday’s downfall. On Monday the Dow Jones Industrial Average dropped below 7,000 and continued its free fall to close below 6,800 (a level not seen in 12 years). The housing sector is still hurting according to the National Association of Realtors. Home sales for the month of January went down 5.3% while the mortgage delinquencies went up 53%.