Great Falls Tribune: Tester says housing market must turn around

The country’s housing market needs to turn around or the economy will continue to flounder.

That was one observation U.S. Sen. Jon Tester, D-Mont., offered to about 200 people in attendance at the Great Falls Area Chamber of Commerce’s Quarterly Luncheon at the Holiday Inn on Friday afternoon.

Those comments came after Great Falls Association of Realtors President Jim Dea asked if government subsidies for entities such as Freddie Mac and Fannie Mae, which oversee low-interest mortgage programs for veterans and first-time homebuyers, are in jeopardy.

“If those programs went away, it would be devastating,” Tester said. “But there has to be some changes, either radical changes within those organizations, or clear directions from Congress.”

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