John Kerry: “there is much to applaud in the bill we are taking up today, H.R. 5640, ``The American Homeownership and Economic…”

“there is much to applaud in the bill we are taking up today, H.R. 5640, ``The American Homeownership and Economic Opportunity Act.'' I note that this legislation is identical to legislation I have cosponsored, S. 3274. Some of the provisions of H.R. 5640 are contained in bipartisan legislation, S. 2733, which I have introduced with my colleagues Senator Santorum, Senator Sarbanes, and others. These are designed to increase the stock of affordable housing for elderly and disabled Americans by expanding the pool of available capital. It will also expand the availability of services to help improve the quality of life for elderly and residents of HUD-assisted properties and other eligible people in the neighborhood. The legislation also includes important reforms to the manufactured housing statute. These reforms provide significant new consumer protections for owners of manufactured homes. For example, the bill creates national minimum installation standards to make sure manufactured homes are not just manufactured correctly--an area that has long been under federal control--but that they are installed properly and perform as advertised to provide high quality, safe, durable, and affordable housing for their occupants.…”