In what passes for good news from the disastrous Obama economy, Housing and Urban Development Secretary Shaun Donovan today informed a grateful nation that home prices are the lowest in a generation.
“Housing is more affordable than it’s been in a generation,” Donovan told CNN Chief Political Correspondent Candy Crowley. “I think it is a good time, long time to become a home owner because it’s so affordable today compared to where it’s been for generations.”
With 1.3 million homes in foreclosure, Donovan said he recognizes the frustrations of the American people but added that housing prices have largely stabilized following the “most serious crisis we’ve had in housing since the Depression.”
Of course the price of everything else has gone up, but it’s supposed to be great news that the value of your home has tanked. Donovan also extols the virtues of using the government to buy your home, oblivious to the fact the push for so-called “affordable housing” is what got us in this mess to begin with.