| ext"> Falling property prices and the rising number | | | | home mortgage that would be similar to the annual |
| of foreclosures are key concerns in real estate. | | | | percentage rate used by the banks to identify |
| Mortgage —holders and builders are likely to be | | | | effective interest rate that a borrower pays for a loan. |
| the focus of a wide range of initiatives. In this direction, | | | | He also proposes changes in the transport facility |
| Mr. Obama has already proposed a mortgage tax | | | | to needy neighborhoods. In this regard, federal Jobs |
| credit for home buyers who don’t itemize | | | | Access and Reverse Commute program are to be |
| deductions. We still imagine more aggressive relief is | | | | doubled so as to ensure that additional federal public |
| likely to be sought. | | | | transportation dollars flow to the highest-need |
| In an interview during his eventful presidential | | | | communities. |
| campaign, Mr. Obama had mentioned measures to | | | | Mr. Obama has also expressed a goal of making |
| ease mortgage crisis. He has called for the creation of | | | | all new buildings carbon-free by 2030. This law has |
| a $10 billion foreclosure prevention fund that will work in | | | | already made its first move by allowing a high tax |
| tandem with state, local and community. This is to help | | | | credit for users of energy-efficient sources of |
| households facing foreclosure to renegotiate with | | | | energy like solar or wind energy. In future, Obama has |
| lenders or put their house on the market. In the long | | | | proposed introduction of competitive grant program to |
| term, the Stop Fraud Act would create criminal | | | | recognize states and localities that take steps to |
| penalties for mortgage professionals found guilty of | | | | implement new building codes that prioritize energy |
| fraud. This would increase funding for federal and | | | | efficiency. |
| state enforcement of antifraud programs. | | | | He has also proposed certain tax reforms such as |
| Mr. Obama also wishes to create a simplified, | | | | simplifying tax codes that would help general public. |
| standardized metric for calculating the costs of a | | | | |