Free Republic

How does this fit in with the White House’s new Obama moniker, “warrior of the working class?” Old Saybrook, Conn (WTNH) – It was rumored that President Barack Obama has considered purchasing the late Katharine Hepburn’s 8,300-square-foot mansion in the posh Fenwick section of Old Saybrook. Some folks living in the Fenwick section of Old Saybrook were not surprised by the recent rumors. Marge Taylor says news President Barack Obama may be looking at Katherine Hepburn’s old house is nothing new. She says his daughters Sasha and Malia have already been seen around the neighborhood because Sasha is friends with...

<p>This seems like a really bad idea to me. Talk about crony capitalism. Individual buyers will be shut out from buying these properties.</p>

WASHINGTON, May 7 (Reuters) - President Barack Obama's budget proposal for 2010 would spend $1 billion to endow a new federal fund meant to expand housing opportunities to low-income borrowers. The Housing Trust Fund was conceived by Rep. Barney Frank, chairman of the House Financial Services Committee, and was supposed to be funded by a tax on mortgage-finance agencies Fannie Mae (FRE.N: Quote, Profile, Research) and Freddie Mac. (FRE.N: Quote, Profile, Research)

The Obama administration this week will announce a "good, solid" plan with the goal of stemming mortgage foreclosures and putting a floor under falling real estate prices, a senior White House aide said on Sunday. Speaking on "Fox News Sunday," senior adviser David Axelrod said the plan that President Barack Obama plans to announce on Wednesday will aim to stem foreclosures, provide immediate help to homeowners who are "right on the edge" of foreclosure, and ultimately help in "raising home values that have been plummeting." Mr. Obama plans to unveil his housing plan during a visit to Phoenix. As part...