President Obama Announces Aid for Struggling States

President Obama has announced a new program that will provide housing assistance to for states that have been hardest by real estate declines: Nevada, California, Florida, Arizona and Michigan.

Here is the release from the White House with details:

LAS VEGAS, NEVADA — President Obama, with Senate Majority Leader Harry Reid, announced funding for innovative measures to help families in the states that have been hit the hardest by the aftermath of the housing bubble.  In each of these states, the average price for all homes in the state has fallen more than 20% from the peak.

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