President Barack Obama has signed into law the $787 billion stimulus bill aimed at bolstering the US economy and with it the housing sector.

The move, which could help improve the Fort Myers property market situation and that elsewhere in the country, might not be the last, White House press secretary Robert Gibbs told reporters.

He said that while there are no current plans for another stimulus package, he commented: "I wouldn’t foreclose it [the possibility]."

Those hoping that the Fort Myers property market will be boosted thanks to the package may have been encouraged by a recent rally held by the president in the town.

Mr Obama was speaking at the event when it was revealed that the senate had passed the bill.

Pledging action on foreclosures, the president told his audience: "We are going to do everything we can to help responsible homeowners here in Fort Myers and other hard-hit communities stay in their homes."

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