Needed: $100 billion to restart market, says Yun

Housing cheerleader and chief economist of the National
Association of Realtors Lawrence Yun said that another $100 million is needed
for homeowners if the market is to revive. In a presentation at the group’s
annual convention, held this year in Orlando,
Yun called on Congress and President-elect Barak Obama to make a homebuyer tax
credit more generous and offer a buy-down of buyers’ mortgage rates. He also
said permanent loan limits of up to $729,000 are needed for federally backed
mortgages.