W.House cautions realism over Obama housing plan

A foreclosed home is shown in Corona, California, December 18, 2008. REUTERS/Lucy Nicholson

WASHINGTON (Reuters) - The White House cautioned Americans on Friday against having unreasonable expectations about President Barack Obama’s plan to stem home foreclosures, which he is due to unveil on Wednesday.

White House spokesman Robert Gibbs told a news conference that the plan was “not intended to be measured by one day’s market score-keeping, but instead to ensure that the 10,000 Americans who each day have their homes foreclosed on, and the millions more trying to get by, are protected.”

“I would wait until Wednesday to see what the president offers and be careful that we don’t set an unreasonable series of expectations based on leaks from God only knows where,” Gibbs said.

Editing by Patricia Zengerle