U.S. President Barack Obama speaks about the housing market during a visit to a Phoenix neighborhood January 8, 2015. At left is Housing and Urban Development Secretary Julian Castro. Seen next to Obama are David Adame (2nd R) and Edmundo Hidalgo (R) of Chicanos Por La Causa Inc. (CPLC), which is a local non-profit organisation that owns the development. The Federal Housing Administration will reduce annual mortgage insurance premiums by 0.5 percentage point to 0.85 percent from 1.35 percent, the White House said on Wednesday.
REUTERS/Kevin Lamarque (UNITED STATES - Tags: POLITICS BUSINESS REAL ESTATE)