Obama: Can't Just Re-Inflate the Housing Bubble

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President Barack Obama took his economic road show to Phoenix on Tuesday, where he highlighted the effect his housing policies could have on furthering the recovery of the housing market in the Arizona city and dozens of other towns like it that were hit hard by last decade's mortgage crisis.

The president called for a series of reforms for both borrowers and lenders, which he said would help boost homeownership and protect the housing market from another crash similar to the one which devastated American financial system and prompted the onset of the 2008 recession.