Obama calls housing crisis urgent

President Barack Obama on Friday said it was crucial to deal with the housing sector crisis. He is expected to soon reveal a plan to tackle the continuing problem of mortgage foreclosures.

"We are going to have to once again live within our means," Obama told the Business Council.

"We need to confront the crisis in the housing sector that has been one of the sources of our economic challenges," he said.

Congress are preparing to pass a $789 billion stimulus bill to help restart the U.S. economy, which has been hit by low consumer and business spending. The plan is expected to create or save up to 4 million jobs.




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Obama: Crucial to confront US housing crisis Reuters