On the recordFebruary 17, 2012
Madam Speaker, I rise today to talk about the housing crisis facing Americans. In California's San Joaquin Valley, we know firsthand the pain the housing crisis has caused our families and communities as foreclosure rates have continued to hover well above the national average. The $25 billion settlement announced last week gives significant relief to homeowners; but it's not the wholesale, systemic change necessary to put our housing market back on solid ground. Homeowners are tired of waiting for meaningful change, and tweaks are not enough. Enacting the HOME Act and a homeowner's bill of rights would go a long way toward stabilizing the market and leveling the playing field for the future. We know it's essential to get our economy back on track. Restoring economic security starts with passing meaningful policies that rebuild the foundation of our communities and the American home. After all, the American home is the single largest investment that the average American family makes in their lifetime. It's part and parcel of the American Dream and the foundation of America's middle class. ____________________
