President Barack Obama recently made a speech outside of Washington, D.C., promising to continue assisting homeowners in the area, the Washington Examiner reports.
According to the newspaper, the president cited the falling value of homes inside the beltway as a major concern.
"Here in Falls Church, home values have fallen by about a quarter from their peak," Obama stated. "In places like Las Vegas, more than half of all homeowners are underwater. More than half."
The Examiner noted that home prices in the area at the housing market's peak were close to $477,000. However, in the wake of the housing bubble burst, prices of homes hovered near $390,000 in November 2011.
The president noted the housing market was a major point of concern in the most recent State of the Union address. During the address he noted that new actions will soon be in place to provide relief for current homeowners and buyers, alike. These actions could make the purchase of a home for sale in Washington, D.C., a profitable investment.
