NAR Applauds Senate Housing Deal, an article from the Realtor Magazine Online, reports that according to the National Association of Realtors, a Senate's committee's approval of a plan to allow the federal government to insure up to $300 billion in refinanced loans for home owners in financial distress is a major sign of progress.  NAR President Richard Gaylord said in a statement, “We are pleased with the overall direction of this bill.  This legislation is good for both the housing market and the home owner."  The Senate Banking Committee voted Tuesday to pass the Federal Housing Finance Regulatory Reform Act of 2008.  Gaylord added, “We look forward to working with the House and Senate to finalize an aggressive bill that will ensure that every American who can afford to own a home and aspires to do so will have that opportunity, and that every American who responsibly owns a home is able to keep it.”
http://www.realtor.org/rmodaily.nsf/pages/News2008052101

Additional articles that you may find of interest:

Weary and Wary, Homeowners Stay Put and Rents Rise
http://online.wsj.com/article/SB121140728202412099.html?mod=RealEstateMain_1

Too Late to Become an REO Broker? No Way!
http://realtytimes.com/rtpages/20080522_reobroker.htm

Making Vacation Home Vacancies Vanish
http://realtytimes.com/rtpages/20080521_vacancies.htm

Commercial Real Estate Edges Down
http://www.realtor.org/RMODaily.nsf/pages/News2008052102