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Housing to turn corner within months: Paulson

WASHINGTON
Tue Jul 22, 2008 9:53am EDT

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Treasury Secretary Henry Paulson delivers remarks on markets and the economy at The New York Public Library, July 22, 2008. REUTERS/Shannon Stapleton

WASHINGTON (Reuters) - Treasury Secretary Henry Paulson said on Tuesday that America's housing market could turn a corner and begin recovering within months, but it will take longer to resolve all housing-related problems.

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"Obviously, it will go on beyond months with some of the issues in the housing market, but I believe we can get to the point within months where we turn the corner on housing," Paulson said in a televised interview with Fox Business Network.

He said the corner would be turned at the point when home prices begin to stabilize and more buyers start to enter the market. He added that the role played by Fannie Mae (FNM.N) and Freddie Mac (FRE.N) was crucial to providing financing to potential buyers.

(Reporting by David Lawder; Editing by Jonathan Oatis)
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