President-elect Obama picks HUD chief

President-elect Barack Obama selected Shaun Donovan as Secretary of the U.S. Department of Housing and Urban Development on Saturday.

“Strong leadership is needed at this critical time in our economy and in the housing market, and we believe Shaun Donovan will bring that leadership to the Department,” said National Association of Realtors® President Charles McMillan.

Donovan, the New York City Department of Housing Preservation and Development commissioner, has extensive experience in the industry, including as Deputy Assistant Secretary for Multifamily Housing at HUD until 2001.

See the president-elect make the announcement during his weekly address: