Political Quotes

“Giving every family and individual the tools they need to buy a home is good for the homebuyer, the community, and the Nation. We must never lose sight of our goal and National Homeownership Month is the perfect time to rededicate ourselves to this goal. The housing industry is in a unique position to lead the Nation out of recession in 2002. A new report issued by the National Association of Home Builders, "Housing--The Key to Economic Recovery," shows that housing accounts for about 14 percent of the Nation's Gross Domestic Product, or about one out of every seven dollars spent in the U.S. each year. The same report shows that the construction of 1,000 single-family homes generates 2,448 jobs in construction and construction-related industries, approximately $79.4 million in wages and more than $42.5 million in Federal, State and local tax and revenue fees. Construction of 1,000 multifamily homes generates 1,030 jobs in construction and related industries, approximately $33.5 million in wages, and more than $17.8 million in Federal, State, and local tax revenue and fees. Minority purchase power is rising. Hispanics homeownership increased 39 percent between 1994 and 2000. African-American homeownership increased 24 percent in that same period. However, minority homeownership rates are almost 30 percent lower than the overall national rate. Homeownership is a wise investment for long-term financial security, and an investment in America.”