Stabilizing housing and dealing with foreclosures is vital for the entire economy, he contended.
By stabilizing house prices, these programs would benefit the bulk of Americans, who own a home but did not get involved in the subprime mortgage market.
But clearly, despite surging stock prices and a stabilizing housing market, consumers remain nervous about their own financial security because of mounting job losses.
In Shanghai, an identical capital gains tax was announced and took immediate effect, and city officials pledged to install and enforce other measures aimed at stabilizing housing prices.
Stabilizing house prices reduces the incentive for other underwater homeowners to walk away from their homes, and gives all homeowners increased confidence in the economic value of their house.
TIANJIN, China (Reuters) — Stabilizing house prices is an essential task for every level of government in China, Prime Minister Wen Jiabao said on Monday, underlining how worries about a red-hot property market have become a central focus of policy makers.
More confident consumers, a stabilizing housing market, a better outlook for businesses and a big (but temporary) boost from the government help in the short term.
Most important, our plan would help stabilize housing prices.
It also could help to stabilize housing prices by encouraging them to stay in their homes.
The rent board's staff prepares at least five reports each year assessing the affordability and profitability of stabilized housing.
