The fate of Fannie and Freddie was determined on Capitol Hill this week as a proposal from Treasury Secretary Geithner laid out three proposals for reducing the government’s role in the housing system, including shrinking the role of the two mortgage agencies. There is likely to be much conversation on this in the coming weeks. Stay tuned…

Perhaps a discussion should be around how to simplify the mortgage process as nearly one-third of respondents in a recent survey said that understanding it was the most difficult step in buying a home.

The Obama Adminstration’s Hardest Hit Fund, which provides federal funding to areas “hit hard by unemployment or fallen home prices” will soon be available in all 18 states included in the program. Although California and Florida were granted the largest share of the government support, perhaps other areas like Charlotte and Spartanburg should not be left in the dark as they are among areas which could experience a surprising increase in foreclosures.

Hip Hip Hooray? According to MarketWatch, there are 10 reasons to be optimistic towards the housing market, including increasing consumer confidence, improving job market and “pent up demand” from young adults. Also, there is a growing number of cash buyers and housing affordability has reached pre-bubble levels. What do you find most promising?

So what can homeowners do to help the country reach President Obama’s clean energy goal laid out during his recent State of the Union? Easy steps now include downsizing lawns, opening windows and unplugging appliances when not in use. So with the ultimate goal of reducing our carbon footprint, it’s natural to wonder what changes will be adopted in the future building of houses. According to an article in the February issue of Holmes: The Magazine to Make it Right, green homes of the future will “produce their own electricity, redirect rainwater to flush toilets, and have a geothermal pump in the home’s basement to capture the earth’s temperature to provide indoor heating and air conditioning.” It’s not the Jetsons, but still cool!

Do you live in one of America’s most miserable cities? If so, how can you work with your community to make your area more desirable?