By Alex Girda, Associate Editor<\/p>\n
In a move that would change a big chunk of the real estate market, and beyond, the federal government is currently pushing a plan to transform repossessed homes into rental units. The move would also be an integral part of the job creation component to The Center for American Progress\u2019s plan to turn around the financial crisis and its aftermath in the job market.<\/p>\n
The think tank is proposing a series of renovations for all repossessed homes that would convert them into rental units that would eventually be sold to third-party entities. The move would definitely aid Las Vegas\u2019 troubled housing scene seeing as it holds the nation\u2019s leading spot for foreclosures. The targeted homes will be those that had mortgages with Fannie Mae, Freddie Mac, the Federal Housing Administration or the Veteran\u2019s Administration and now count as government repossessed, the Las Vegas Sun <\/em>reports.<\/p>\n Leaving the realm of wishful \u201cthink-tank\u201d-ing, the Strip\u2019s housing reality hasn\u2019t been looking great for the past few years, but lately there have been some indicators that point toward a milder fall, if not a full-blown recovery.<\/p>\n The recently released Standard & Poor\u2019s Case-Shiller Home Price Indices show that June improved the city\u2019s track record with home prices, but only just. June saw the city\u2019s first price rise of the last eight months, putting an end to a prolonged slide. However, compared to May\u2019s 0.9 drop, June\u2019s 0.1 price increase is nothing to be excited about. The housing market will take every sign of recovery it can get, and Las Vegas is by far the needy child.<\/p>\n","protected":false},"excerpt":{"rendered":" By Alex Girda, Associate Editor
\nIn a move that would change a big chunk of the real estate market, and beyond, the federal government is currently pushing a plan to transform repossessed homes into rental units. The move would also be […]<\/p>\n","protected":false},"author":237,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1593,21742],"tags":[],"class_list":["post-1004053703","post","type-post","status-publish","format-standard","hentry","category-las-vegas","category-latest"],"acf":[],"yoast_head":"\n