I am please to introduce today, along with my colleague from California, Senator Feinstein, legislation that will further one of the most important public policy goals we have as a Nation--the goal of homeownership. Homeownership is a significant part of the American dream. It has been called the backbone of our economy. It is widely considered the primary means by which American families create middle-class wealth and build financial security. Homeownership is all those things and more. It is the cornerstone of healthy communities across our Nation. It is good for families, good for our schools, good for our neighborhoods. Equity in homes is the leading source for collateral for small business start-up borrowing, and home equity loans are the leading provider of funds for a college education. Some experts even say home owners are more likely to vote. Despite the many benefits, there are still too many Americans for whom the American dream of homeownership is unreachable.
On the recordNovember 21, 2003
Source
govinfo.govEditor's note · Context
Introducing legislation to promote homeownership and address disparities in homeownership rates among minority populations.
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