President shifts focus to renting, not owning - The Boston Globe

President shifts focus to renting, not owning - The Boston Globe: "WASHINGTON - The Obama administration, in a major shift on housing policy, is abandoning George W. Bush’s vision of creating an “ownership society’’ and instead plans to pump $4.25 billion of economic stimulus money into creating tens of thousands of federally subsidized rental units in American cities.
The idea is to pay for the construction of low-rise rental apartment buildings and town houses, as well as the purchase of foreclosed homes that can be refurbished and rented to low- and moderate-income families at affordable rates."

Maybe he should have learned this when he helped Fanny and Freddie sell to people who couldn't afford their payments? We wouldn't be in the economic problems we are now.