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Sequestration and the Housing Market

Sequestration is on everyones mind as massive government budget cuts are set to go into effect tomorrow.

With a focus on cuts in defense and social programs – what about the housing market?

According to US Secretary of Housing and Urban Development Shaun Donovan sequestration could be “deeply destructive” to all aspects of the

housing market, From programs for the homeless to reconstruction

after Superstorm Sandy. Donovan added, the sequester would, “harm numerous families,

individuals, and communities across the nation that rely on HUD

programs.”

Follow me on Twitter @WoodworthCourt for all of your business and real estate news. For the Financial News Network Online, I’m Courtney Woodworth.

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