Mr. President, if I may, this morning, I think we have adopted a very good piece of legislation, one that is going to take a significant step in dealing with the present housing crisis in our country. As I have repeated on numerous occasions over the last number of weeks on the Senate floor, almost 8,000 people every single day are facing foreclosure. That is a staggering number of people, and in a given week's time that would fill most any college or professional sports stadium. Eight thousand people every day run the risk of losing their most important asset outside of their beloved family members. The greatest accumulation of wealth for most people is their home. It may mean for them, in their future, providing for a secure retirement, dealing with college education, providing for the unforeseen crisis that can occur where that equity in a home can make all the difference in the world, not to mention what a stabilizing influence it has for a family, a neighborhood, or a community. Home ownership. All of that is at risk for too many of our fellow citizenry.
Editor's note · Context
Addressing the housing crisis and the importance of home ownership during Senate floor debate.
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